Lack of discussion about the recast legislation

8 years 11 months ago #859 by David J
I have to admit that I have been rather surprised at the lack of discussion about the forthcoming changes to the current late payment legislation. That is until you review the results of our web poll running on the right. Only 6% of businesses are even aware of the recast legislation! How can businesses discuss something they know nothing about? 50% have only found out about the current legislation!!
Government have sat on the recast since February 2011, then gave chosen representative bodies one month to make comments on the proposals.
A poorly represented debate in the commons droned on about how bad late payment is for the economy and how small businesses are 'the lifeblood' of the UK but just concluded that they should 'ask' big businesses to sign up to the Prompt Payment Code.
Basically the recast has been swept under the door and out into the corridor in the hope that nobody notices.
I really hope that is not the case but nothing I'm hearing is convincing me otherwise.
The government is correct in saying that there has to be a change of culture to late payment but nothing is going to change without having a strong deterrent behind it. We currently have a very good legislation as a deterrent. Some people say it doesn't work but I have never heard those same people offer a better 'workable' solution. Nothing works if you don't use it anyway.
I fear that the opportunity for business to have a say in this change has already been missed. That is not their fault. They were not informed.
Maybe that has been the intention all along....

Just my 0.5pence worth...(austerity measures)


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