SMEs: Late Payment | Business and Trade | Commons debates

Small businesses are the backbone of our economy, but unfortunately late payments continue to blight the ability of small businesses to trade, with an average of £684 million a year being lost. Unfortunately, that is on the increase, with a 7% increase in 2023. I appreciate what the Minister said about another review— I think we had one a few years ago—but what specific actions are the Government taking to address this appalling abuse of power, which is contributing to 50,000 small businesses going under a year?

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