Written Question·Department for Business and Trade·UIN 15863
Business: Payments
Tabled: 3 July 2026
Answered: 10 July 2026
Question
Dr Al Pinkerton
Liberal Democrat — Surrey Heath
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact on GDP of reducing average business-to-business payment times by one day.
Answer
Blair McDougallThe Department has not made a separate assessment of the GDP impact of reducing average business-to-business payment times by one day. Late payments are estimated to cost the UK economy almost £11 billion each year. The Commercial Payments Bill is designe...
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