Government departments fail to meet the pledge of Lord Mandelson
A year ago the Business Secretary, Lord Mandelson, made a pledge that small businesses would be paid within 10 days of an invoice being submitted. It seems, however, that only 2% of invoices are in fact paid within this period, with 30% being paid more than one month after an invoice is submitted.
Martin Williams, MD of Graydon said: “Was this government pledge another example of government rhetoric aimed at calming the nerves of the business nation in the midst of a severe recession, without any real hope of proving deliverable?”
“Some would argue that this policy follows in the footsteps of the Top up Credit Insurance scheme and the Enterprise Finance guarantee Scheme- other “Made in Recessionary UK” products that really failed to deliver what they were meant to, to help the country through the downturn.”