Late payment proposals

Small businesses urge late payments crackdownThe Federation of Small Businesses is calling on the Government to “radically strengthen” the prompt payment code and to name and shame repeat offenders. The FSB also wants Government contractors on all major public sector projects to ring-fence cash intended for suppliers in so-called project bank accounts. Big companies should be required to appoint a non-executive director with responsibility for supply chains. the lobby group adds. Mike Cherry, FSB chairman, said: “More must be done to ensure private, as well as public sector, supply chains pay on time.”