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444102

	registered interest
	date	12/01/2016
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	hansard heading	Small Businesses: Billing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, which 10 companies owed the greatest amount of late payment debt to SMEs in each six-month period of the last 10 years.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	22124
	answer	answer is ministerial correction date of answer 20/01/2016 answer text <p><strong></strong></p><p>The Department does not hold the information required. However, BACS data shows that small and medium businesses are owed a total of £26.8 billion, and the average small business is waiting for £31,900 in overdue payments.[1]</p><br /><p>The Government recognises that late payment remains an important issue for small businesses in the UK and is taking significant steps to assist small businesses to recover late payment debts. This is part of a package of measures to tackle late payment. We have also legislated for new transparency measures in the public and private sectors.</p><br /><p>The Small Business Enterprise and Employment Act 2015 legislated for new reporting requirement on the UK’s largest companies and Regulations will be introduced this year which will compel larger companies to report on payment practices and performance. This information will be published on a six-monthly basis and will be made publicly available.</p><br /><p>The Public Contracts Regulations 2015 introduced a requirement for all public-sector buyers to publish annually, from 2017, their liability to debt interest payments. In central government we have gone further and faster. We will be publishing against these requirements quarterly from April this year. This will allow full public scrutiny of payment performance.</p><br /><p>Through the Enterprise Bill, currently before Parliament, we will legislate to establish a Small Business Commissioner to give general advice and to help small businesses resolve disputes relating to payment matters with larger businesses.</p><br /><p>Tackling late payment is about creating a responsible payment culture where larger companies recognise the benefit of having a sustainable and robust supply chain, and smaller businesses feel able to challenge poor behaviour. Once implemented, the Government is confident that these measures will lead to significant changes in the UK’s payment culture.</p><br /><p><strong></strong></p><br /><p>[1] BACS Data June 2015.</p> answering member constituency Broxtowe answering member printed Anna Soubry grouped question UIN 22125 22126 22130 22183 question first answered 20/01/2016 17:48:40 answering member 3938 label Biography information for Anna Soubry
	tabling member	4061 label Biography information for Bill Esterson

444103

	registered interest
	date	12/01/2016
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	hansard heading	Small Businesses: Billing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, how many SMEs have been declared bankrupt as a result of late payments in each of the last 10 years.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	22125
	answer	answer is ministerial correction date of answer 20/01/2016 answer text <p><strong></strong></p><p>The Department does not hold the information required. However, BACS data shows that small and medium businesses are owed a total of £26.8 billion, and the average small business is waiting for £31,900 in overdue payments.[1]</p><br /><p>The Government recognises that late payment remains an important issue for small businesses in the UK and is taking significant steps to assist small businesses to recover late payment debts. This is part of a package of measures to tackle late payment. We have also legislated for new transparency measures in the public and private sectors.</p><br /><p>The Small Business Enterprise and Employment Act 2015 legislated for new reporting requirement on the UK’s largest companies and Regulations will be introduced this year which will compel larger companies to report on payment practices and performance. This information will be published on a six-monthly basis and will be made publicly available.</p><br /><p>The Public Contracts Regulations 2015 introduced a requirement for all public-sector buyers to publish annually, from 2017, their liability to debt interest payments. In central government we have gone further and faster. We will be publishing against these requirements quarterly from April this year. This will allow full public scrutiny of payment performance.</p><br /><p>Through the Enterprise Bill, currently before Parliament, we will legislate to establish a Small Business Commissioner to give general advice and to help small businesses resolve disputes relating to payment matters with larger businesses.</p><br /><p>Tackling late payment is about creating a responsible payment culture where larger companies recognise the benefit of having a sustainable and robust supply chain, and smaller businesses feel able to challenge poor behaviour. Once implemented, the Government is confident that these measures will lead to significant changes in the UK’s payment culture.</p><br /><p><strong></strong></p><br /><p>[1] BACS Data June 2015.</p> answering member constituency Broxtowe answering member printed Anna Soubry grouped question UIN 22124 22126 22130 22183 question first answered 20/01/2016 17:48:40 answering member 3938 label Biography information for Anna Soubry
	tabling member	4061 label Biography information for Bill Esterson

444104

	registered interest
	date	12/01/2016
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	hansard heading	Small Businesses: Billing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the cost to the UK economy of late payments to SMEs in each of the last five years.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	22126
	answer	answer is ministerial correction date of answer 20/01/2016 answer text <p><strong></strong></p><p>The Department does not hold the information required. However, BACS data shows that small and medium businesses are owed a total of £26.8 billion, and the average small business is waiting for £31,900 in overdue payments.[1]</p><br /><p>The Government recognises that late payment remains an important issue for small businesses in the UK and is taking significant steps to assist small businesses to recover late payment debts. This is part of a package of measures to tackle late payment. We have also legislated for new transparency measures in the public and private sectors.</p><br /><p>The Small Business Enterprise and Employment Act 2015 legislated for new reporting requirement on the UK’s largest companies and Regulations will be introduced this year which will compel larger companies to report on payment practices and performance. This information will be published on a six-monthly basis and will be made publicly available.</p><br /><p>The Public Contracts Regulations 2015 introduced a requirement for all public-sector buyers to publish annually, from 2017, their liability to debt interest payments. In central government we have gone further and faster. We will be publishing against these requirements quarterly from April this year. This will allow full public scrutiny of payment performance.</p><br /><p>Through the Enterprise Bill, currently before Parliament, we will legislate to establish a Small Business Commissioner to give general advice and to help small businesses resolve disputes relating to payment matters with larger businesses.</p><br /><p>Tackling late payment is about creating a responsible payment culture where larger companies recognise the benefit of having a sustainable and robust supply chain, and smaller businesses feel able to challenge poor behaviour. Once implemented, the Government is confident that these measures will lead to significant changes in the UK’s payment culture.</p><br /><p><strong></strong></p><br /><p>[1] BACS Data June 2015.</p> answering member constituency Broxtowe answering member printed Anna Soubry grouped question UIN 22124 22125 22130 22183 question first answered 20/01/2016 17:48:40 answering member 3938 label Biography information for Anna Soubry
	tabling member	4061 label Biography information for Bill Esterson

444105

	registered interest
	date	12/01/2016
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	hansard heading	Small Businesses: Billing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, how much on average was owed in late payment debt to SMEs in each of the last 10 years.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	22130
	answer	answer is ministerial correction date of answer 20/01/2016 answer text <p><strong></strong></p><p>The Department does not hold the information required. However, BACS data shows that small and medium businesses are owed a total of £26.8 billion, and the average small business is waiting for £31,900 in overdue payments.[1]</p><br /><p>The Government recognises that late payment remains an important issue for small businesses in the UK and is taking significant steps to assist small businesses to recover late payment debts. This is part of a package of measures to tackle late payment. We have also legislated for new transparency measures in the public and private sectors.</p><br /><p>The Small Business Enterprise and Employment Act 2015 legislated for new reporting requirement on the UK’s largest companies and Regulations will be introduced this year which will compel larger companies to report on payment practices and performance. This information will be published on a six-monthly basis and will be made publicly available.</p><br /><p>The Public Contracts Regulations 2015 introduced a requirement for all public-sector buyers to publish annually, from 2017, their liability to debt interest payments. In central government we have gone further and faster. We will be publishing against these requirements quarterly from April this year. This will allow full public scrutiny of payment performance.</p><br /><p>Through the Enterprise Bill, currently before Parliament, we will legislate to establish a Small Business Commissioner to give general advice and to help small businesses resolve disputes relating to payment matters with larger businesses.</p><br /><p>Tackling late payment is about creating a responsible payment culture where larger companies recognise the benefit of having a sustainable and robust supply chain, and smaller businesses feel able to challenge poor behaviour. Once implemented, the Government is confident that these measures will lead to significant changes in the UK’s payment culture.</p><br /><p><strong></strong></p><br /><p>[1] BACS Data June 2015.</p> answering member constituency Broxtowe answering member printed Anna Soubry grouped question UIN 22124 22125 22126 22183 question first answered 20/01/2016 17:48:40 answering member 3938 label Biography information for Anna Soubry
	tabling member	4061 label Biography information for Bill Esterson

444540

	registered interest
	date	13/01/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Small Businesses: Billing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of late payment of claims by insurance companies on SMEs.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	22457
	answer	answer is ministerial correction date of answer 20/01/2016 answer text <p>In the Enterprise Bill, Government has proposed to introduce a new requirement for insurers to pay claims within a reasonable time, which will also entitle policyholders to claim damages where a claims is paid late. An assessment of the impact of late payment of insurance claims, including on small and medium sized enterprises, has been published by the government:</p><p>https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/461200/BIS-15-517-IA-late-payment-of-insurance-claims.pdf</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 20/01/2016 16:12:05 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	4061 label Biography information for Bill Esterson