£20bn is currently held up in late payments. More than the entire science budget!
It should be flowing into small businesses, instead they have to spend time & money chasing it.
I asked the Govt to follow Labour's policy & properly legislate to tackle late payments to SMEs. pic.twitter.com/r0uy0vi2Vv
— Chi Onwurah ???? (@ChiOnwurah) May 18, 2023
Twenty billion pounds! That is the amount of money currently held up in late payments—more than the entire science budget. It should be flowing to small businesses, allowing them to innovate, develop new products, create new jobs, drive our local economies or simply stay afloat. Instead, every day thousands of our great British small and medium-sized enterprises are wasting precious time and money chasing late payments, at an estimated cost of £684 million a year. For the sake of British business, will this Government take a leaf out of Labour’s policy book and properly legislate to tackle late payments to small businesses?