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Chancellor urged to tackle late payment "crisis"


The FSB is calling on Philip Hammond to tackle the late payment “crisis” that is damaging small businesses. It urged the chancellor to use today’s Spring Statement to show “leadership” on the issue, after a survey of 1,512 companies found that more than 80% reported being paid late. More than one in three respondents to the FSB’s survey also claimed that the situation was getting worse, despite official measures such as forcing big businesses to disclose their payment performance. Meanwhile, the Forum of Private Business is also asking the chancellor to offer clarity, support and encouragement to the small and micro business sector in today’s update.

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