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Debate between Kevin Hollinrake and Virendra Sharma(1 year, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Virendra Sharma (Ealing, Southall) (Lab)
Yesterday, I hosted a roundtable meeting for businesses in my constituency. They were worried about late payments and a Government who are not helping them. Fifty thousand businesses close every year due to late payments, and small businesses account for two thirds of UK private sector employment. Will this Government act before the worst of the Tory-led recession bites to save millions of jobs?
Kevin Hollinrake
I thank the hon. Member for his question. He is absolutely right to bring up this matter. It is one of the concerns that has been raised most frequently with me since taking on this role. We are tackling the culture of late payments with measures including the Payment Practices Reporting, the Small Business Commissioner and the Prompt Payment Code, but I am determined to see how much further we can go to be effective in this area.