| Previous Section | Index | Home Page |
Late Payments
Mrs. Gillan: To ask the President of the Board of Trade (1) what proportion of late payment of debt she estimates is attributable to small businesses failing to pay other such businesses on time; and what research on this subject her Department have (a) commissioned and (b) evaluated; [13524]
- (2) what research her Department has (a) commissioned and (b) evaluated to quantify the effect on small businesses of late payment of debt. [13523]
Mrs. Roche [holding answer 30 October 1997]: Recent research undertaken by NOP showed that late payment causes serious problems for all businesses in the UK. As a direct result of late payment, 72 per cent. of those businesses surveyed have cash flow difficulties, 62 per cent. are less profitable, 45 per cent. are unable to grow and 41 per cent. say that their very survival is threatened.
The findings of a recent report undertaken by Trade Indemnity also showed that small businesses continue to suffer more from late payment than larger ones. Small businesses with a turnover of less than £1 million were found to have 29 per cent. of invoices outstanding compared to only 9 per cent. for businesses with turnover of £50 million.
In addition surveys by Grant Thornton, Lloyds Bank, The British Chambers of Commerce, Experian and Dun and Bradstreet have all shown that large firms are the worst payers with Experian identifying that large companies were two and a half times more likely to pay their bills late than small companies.
The Government is determined to promote a better payment culture in the UK. That is why we have responded to the calls from small businesses and announced a new package of measures to tackle late payment, including the introduction of legislation to provide a statutory right to claim interest on late payment of commercial debt.
Mrs. Gillan:
To ask the President of the Board of Trade if she will list (a) the Ministers responsible for small businesses in each Government Department and the dates of their appointment, (b) the dates on which they have met and (c) the dates on which they are expected to meet during the next 12 months. [13522]
Mrs. Roche
[holding answer 30 October 1997]: Firms employing fewer than 50 people contribute 99 per cent. of all UK businesses. All Government Ministers, therefore, have a responsibility to consider the impact on small firms of the policy and regulatory decisions made by their Department. As Minister with responsibility for small business, I deal directly with Ministers in a number of Government Departments on specific issues that are of particular concern to smaller firms.
The Access Business Ministerial Group, of which I am a member, is chaired by the Parliamentary Secretary of the Office of Public Service. This Group ensures that regulatory practise and advice and information, from both central and local government is as transparent, accessible and helpful as possible.
3 Nov 1997 : Column: 42
A Parliamentary Debate on small firms in Spring 1998 will provide an opportunity for all members to contribute their views on the role and importance of small businesses to the economy of the UK.
Mr. Letwin:
To ask the President of the Board of Trade on what date the Minister for Trade and Competitiveness in Europe sold his BP shares. [13216]
Mrs. Beckett
[holding answer 30 October 1997]: The Minister for Trade and Competitiveness in Europe announced his intention to dispose of his shareholdings in BP in his statement of 5 August. He immediately instructed his bank to make the necessary arrangements which have now been completed.
Mr. Page:
To ask the President of the Board of Trade what steps she has taken to establish a reference point from which improvements in payment times for small businesses would be measured under a statutory right for interest. [13107]
Mrs. Roche:
My Department will continue to monitor and analyse the findings of business surveys into payment times for small businesses. In addition my officials are discussing with the University of Bradford the establishment of a payment observatory which will monitor and report on payment trends including the lateness of payment. The observatory would also identify best practice in credit management so that small businesses can benchmark their own performance.
The Government has made it clear that the Commercial Debts (Interest) Bill is just one of a package of new measures that it will bring forward to promote a better payment culture in the UK. Central and Local Government will be required to publish tables of their actual payment performance and the Government has welcomed the announcement by the Federation of Small Businesses that they will publish league tables of the average payment times of public companies and their large private subsidiaries.
The Government fully recognises the importance of effective credit management procedures and is pleased that all the main small firms organisations have agreed to work with the Government to look at better payment practice.
Mr. Page:
To ask the President of the Board of Trade (1) when she intends to introduce support for clean coal technology via the non-fossil fuel obligation process; [13106]
Mr. Battle:
My Department is nearing completion of a major review of clean coal technology which has involved extensive discussions with industry, universities and a number of overseas organisations such as the International Energy Agency. The review covers future research,
3 Nov 1997 : Column: 43
development and demonstration requirements and has examined a range of funding options for such requirements, including the NFFO process. An announcement on the outcome of the review, our proposed future policy, and proposed consultation with the Commission, will be made once we have had time to consider the review's findings.
Mr. Redwood:
To ask the President of the Board of Trade what guidelines her Department has issued to British Nuclear Fuels plc concerning future liabilities on overseas contracts. [13555]
Mr. Battle
[holding answer 30 October 1997]: BNFL's commercial contracts with overseas customers for reprocessing services are underpinned by inter-Governmental agreements. Arrangements for implementing these contracts, including the accounting treatment, are a matter for the company. In relation to such contracts, I understand that the company, where applicable, makes prudent and appropriate provision for future liabilities that may arise, in accordance with generally accepted accounting policies. Full details of BNFL's accounting policies on, and provisions for, future liabilities are given in its Annual Report and Accounts.
Mr. Llew Smith:
To ask the President of the Board of Trade what assessment she has made of the implications for nuclear safety of the projected merger between BNFL and Siemens. [13761]
Mr. Battle:
Discussions between BNFL and Siemens concerning a possible joint venture company are at a preliminary stage. My Department is being kept fully informed of developments. Any undertakings concerned with nuclear operations will, of course, be subject to the applicable safety regulations.
Mr. Redwood:
To ask the President of the Board of Trade what statutory instruments have been made during the summer Adjournment by her Department. [13553]
Mrs. Beckett
[holding answer 30 October 1997]: My Department made, and laid, the following Statutory Instruments during the summer adjournment:
(2) what representations Her Majesty's Government have made to the Commission over the legality of providing clean coal technology support through the non-fossil fuel obligation process. [13105]
3 Nov 1997 : Column: 44
In addition my Department made one further Statutory Instrument which is not subject to Parliamentary procedure:
The Export of Goods (United Nations Sanctions) (Sierra Leone) Order: S.I. 1997/2464.
Mixed Oxide Fuel
Mr. Llew Smith: To ask the President of the Board of Trade what quantities of mixed oxide fuel have been transported from Sellafield to date for use in German nuclear power plants. [13740]
Mr. Battle: My Department's annual press release details the total exports of plutonium in the form of non-irradiated mixed oxide fuels. Copies of this, and previous releases, are available in the Library of the House. The most recent release, on July 31 1997, reported that 83 kg of plutonium were exported as MOX fuel, exclusively to Germany. Details of individual contracts remain commercially confidential.
| Next Section | Index | Home Page |