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Small Businesses: Billing

Asked by Mr Joshua ReynoldsLiberal DemocratDepartment for Business and TradeTabled Answered 15 September 2025UIN 72276

The question

To ask the Secretary of State for Business and Trade, what assessment the Government has made of the potential impact of large businesses repaying SME invoices 60 or 90 days after receipt of the invoice on levels of interruption to SME cashflow.

Answered by Blair McDougall

On 31st July DBT published new research showing that late payments cost the UK economy £11bn per year and closes down 38 UK businesses every day, with a disproportionate impact upon small businesses.

Government is putting in place the most significant legislation to tackle late payments in over 25 years, giving the UK the strongest legal framework on late payments in the G7. The consultation on stronger new legislative measures to ensure small businesses are paid promptly closes on 23 October.

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