Much in the UK news this week – as it marks the first anniversary of Carillion’s collapse – on The Public Sector Supply Chains (Project Bank Accounts) Bill, which has its second reading in March. Head of public affairs & public policy at the AAT (Association of Accounting Technicians says “With almost a quarter of insolvencies (23%) being caused by late payment issues, it would be difficult for even the most sceptical to deny that late payment is a significant issue for the British economy.” Construction Enquirer writes that the late payment bill boosts calls for project bank accounts; the Federation of Small Businesses (FSB) says more needs to be done to protect SMEs that work in the public sector supply chain as subcontractors (The Express); and ‘Calls for tougher measures to tackle late payment culture’ is the headline of Trethowans, writing that: “A recent report by the Business, Energy and Industrial Strategy Committee (“BEISC”) has recommended that the Government introduce, amongst other things, a statutory requirement that companies pay their supplier’s invoices within 30 days.”

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