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   Demanding More Action on Late Payment of Invoices

CBI Welcomes Prompt Payment Progress, Calls for More Action

April 09 2015


The Confederation of British Industry (CBI) has welcomed changes made by the last government to improve overdue payment performance, but called for more progress to unlock systemic biases against small and medium sized enterprises (SMEs).

CBI cites changes made to the prompt payment code and greater transparency from new rules forcing larger companies to report payment performance as signs of positive progress, but still has concerns about larger companies ‘gaming’ the system and unfairly delaying payments to their often much smaller suppliers.

Among the changes CBI is calling for are:

  • Role models that pay suppliers quickly such as Greggs and Skanska should be publicised.
  • Small businesses should have access to payment performance histories for larger businesses to help with contract negotiations.
  • Government should get its own house in order with more government departments meeting their targets for prompt payment.

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