PARLIAMENTARY WRITTEN QUESTION
(10 October 2025)
Question Asked
To ask the Secretary of State for Business and Trade, what steps his Department is taking to monitor the effectiveness of late payment reforms.
Asked by:
Mr Joshua Reynolds (Liberal Democrat)
Asked by:
Mr Joshua Reynolds (Liberal Democrat)
Answer
This Government is committed to tackling late payments and will introduce the most significant legislation aimed at tackling late payments in 25 years. Late payments cost the UK economy £11bn per year and close down 38 UK businesses every day.
Large businesses are already legally required to publish their payment performance twice yearly through GOV.UK. Analysts at the Department for Business and Trade will be able to determine the effectiveness of these measures through using the data that large businesses submit to check that payment times have improved.
Answered by:
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