‘It’s Time to Pay up’, Says Starmer in Late Payments Crackdown
UNITED KINGDOM, JUL 30 – The UK Government will enforce a 30-day payment rule and fine large companies for late payments, addressing an £11 billion annual cost and daily closure of 38 small firms.
- Firms that pay suppliers late may face fines of millions of pounds, as warned by the Prime Minister, who said: 'it's time to pay up.'
- New laws will require companies to pay suppliers within 30 days of receiving valid invoices, with maximum payment terms being 60 days, dropping to 45 days.
- Keir Starmer stated that too many hardworking people are being forced to spend precious hours chasing payments instead of growing their businesses, and this change aims to support small business growth across the country.
- The crackdown on late payments is part of a £4 billion package to support small businesses, providing £1 billion for new firms, including 69,000 start-up loans.
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Starmer’s late payment crackdown is pointless
They face higher National Insurance charges, increased business rates, crippling energy costs, and if they hire anyone: crushing employment rights. Still, never mind about any of that. The Prime Minister has today come up with a plan to finally show that he is on the side of small businesses and entrepreneurs. He will crack down
·London, United Kingdom
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Total News Sources15
Leaning Left4Leaning Right1Center4Last UpdatedBias Distribution44% Left, 44% Center
Bias Distribution
- 44% of the sources lean Left, 44% of the sources are Center
44% Center
L 44%
C 44%
11%
Factuality
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