Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Kevin Brennan on 2016-03-21.

To ask the Secretary of State for Business, Innovation and Skills, how much his Department owed in late payments to small and medium-sized enterprises in each year for which data is available.

Anna Soubry

When making payments, the core Department does not differentiate between small, medium and large enterprises as many small and medium sized businesses can be found at various tiers of the procurement chain.

The Department takes prompt payment very seriously and records show that in the current financial year to the end of February 2016, 96.4% of all valid invoices (by volume) were paid within 5 working days. When looking at the overall value, this equates to 99.8% paid within 5 working days and 99.99% of invoices were paid within the 30 day standard contractual terms.