Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how many businesses he expects to (a) apply for and (b) be granted awards under the new Fair Payment Code award tiers.

The Government would like to see as many businesses applying to the Fair Payment Code as possible, particularly larger businesses. Tackling late payments is a priority for the Department and the Fair Payment Code is one of a number of measures we are taking. Applying to the Fair Payment Code is a clear sign that businesses are prioritising paying their suppliers promptly and on time. The Office of Small Business Commissioner administer the Code on behalf of the Department and will announce the recipients in due course.