Debbie Abrahams
Main Page: Debbie Abrahams (Labour - Oldham East and Saddleworth)Department Debates - View all Debbie Abrahams's debates with the HM Treasury
(3 months ago)
Commons ChamberOf course, Labour left us in pretty terrible financial circumstances back in 2010. Instead its figure is up £28 billion in real terms at the start of the next Parliament, an increase of 40% in real terms or 7% annually—the biggest ever published.
Small businesses are the backbone of our economy, but they have a constant problem with late payments, which increased by 7% last year, and that is driving many of them into insolvency. Given that the Government are a major contractor, what are they doing through project bank accounts to reduce the impact of late payments?
The hon. Lady makes an important point, and I know there is agreement on this issue across the Chamber. We made statements last year along those lines, putting particular pressure on the public sector. I am sure there will be continuing pressure on the private sector, too.