First, the fact that everybody will now know, because they will read the Hansard, that that company pays in 180 days will have an impact, but the transparency measures in this Bill will take that information in Hansard and make it much more widely public. We have also made a change to the prompt payment code. Big companies could stay within that even if they made their payment practices worse, and we have seen a couple of examples of that recently, so we have convened a new prompt payment advisory board to strengthen the code. That code will only work if it has teeth, so people in the code who have poor prompt payment practices, or who make their prompt payment practices worse, need to be removed from the code, and that must be made to happen in a very public way to demonstrate that the code has teeth; otherwise, it does not have any teeth at all.
Small Business, Enterprise and Employment Bill
Proceeding contribution from
Matt Hancock
(Conservative)
in the House of Commons on Tuesday, 18 November 2014.
It occurred during Debate on bills on Small Business, Enterprise and Employment Bill.
Type
Proceeding contribution
Reference
588 c234 
Session
2014-15
Chamber / Committee
House of Commons chamber
Subjects
Librarians' tools
Timestamp
2015-05-22 06:28:32 +0100
URI
http://hansard.intranet.data.parliament.uk/Commons/2014-11-18/14111856000777
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