Consultation outcome

Late payment of finance: building a responsible payment culture

• From: Department for Business, Innovation & Skills
• Published: 7 December 2013
• Last updated: 30 May 2014 — See all updates

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This consultation has concluded

Read the full outcome

Building a responsible payment culture: government response

Ref: BIS/14/793

PDF, 367 KB, 34 pages

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Detail of outcome

The government response summarises the views we received, and sets out the steps we will take in response.

Detail of feedback received

We received over 100 responses from a wide variety of businesses and industry representative bodies. You can view a full list of respondents at Annex A of the government response.

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Original consultation

Summary

Seeks views on how to deal with late payment in business transactions.

This consultation ran from
12:15am on 7 December 2013 to 7pm on 31 January 2014

Consultation description

Thousands of businesses experience severe administrative and financial burdens every year, simply because they are not paid on time. Late payment stops these businesses, small businesses in particular, from:

• investing to grow
• creating new jobs
• contributing fully to economic prosperity

This consultation asks what government, businesses and other stakeholders can do to build an environment where businesses treat their suppliers fairly, and accept their obligation to pay what they owe, when they owe it, without over-burdensome enforcement.

We seek views on:

• whether more can be done to change business culture through measures to improve accountability and transparency
• how to encourage small businesses to make better use of the statutory rights they already have and whether there is a case to improve those rights
• how we can help small businesses to help themselves to reduce the risk of late payment

Documents

Building a responsible payment culture: a discussion paper

Ref: BIS/13/1324

PDF, 157 KB, 36 pages

Published 7 December 2013
Last updated 30 May 2014 + show all updates

1. 30 May 2014

   Adding government response document

2. 7 December 2013

   First published.