Business: Payments
Commons · Question 15863 · Tabled 3 Jul 2026 · Department for Business and Trade · Official record
Answered 10 Jul 2026
Question
Asked by Al Pinkerton
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
Answered by Blair McDougall, 10 Jul 2026
The 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...