Government Suppliers and Subcontractors Payment 2020-02-27
2020-02-27
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Response quality
Questions & Answers
Q1
Direct Answer
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Context
The question addresses the importance of timely payment to small and medium-sized enterprises for their financial stability.
What steps he is taking to ensure that Government suppliers and subcontractors are paid on time. Following on from earlier responses, the cash flow of businesses is crucial for survival, so what assurances can be given that the timely payment commitment will always extend further down the supply chain?
I can give my hon. Friend those assurances: we do take those things into account. As far as the Cabinet Office is concerned, we are meeting the five-day payment target and in 99% of cases all invoices are paid within 30 days.
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Assessment & feedback
Response accuracy