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The Federation of Small Businesses (FSB) has called for the government to ‘push through the late payments reform package’ announced in the 2019 Spring Statement.
The FSB is urging Prime Minister Theresa May to use her final days in office to ensure the government ‘delivers on the promise made to the small business community’.
According to the business group, reforms already undertaken by the government ‘have made some progress’, but delivering the new package of reforms – including strengthening the Prompt Payment Code – is ‘critical’.
‘We are now at crunch time for the promised late payments package we have worked hard with the government to secure,’ said Mike Cherry, National Chairman of the FSB.
‘Under this administration, small firms have seen some positive reforms come into force to ease the burden of poor payment practices. Many, however, are still just about managing to cope with the persistent and debilitating impact bullying and being paid late has on them and their staff.
‘We cannot afford to have these crucial reforms lost at the last fence, as attention turns to the leadership contest, a new administration and the upcoming Brexit deadline.’
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