Public Sector Late Payment issues

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Posted: 28th of February 2013

As the amount owed in late payments to suppliers and subcontractors passes £36 billion, Government has pledged to get tough with companies that don't pay their sub-contractors in reasonable time.

According to the Daily Telegraph, Business Minister, Michael Fallon, has written to all FTSE350 companies asking them to sign the voluntary Prompt Payment Code. Those failing to do so will be named and shamed by the Government.

Mr. Fallon's announcement echoes a growing wave of opposition to shoddy payment practices by some of Britain's best known companies.

For more information on the Prompt Payment Code, please visit the http://www.promptpaymentcode.org.uk/



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