Government 'has no IT budget for faster payments to small firms'
submitted by marknutburn on 20 October 2008
The Government has not allocated funding to improve the payment systems used to honour Gordon Brown's pledge to pay small suppliers faster during the economic downturn. The Department for Business, Enterprise and Regulatory Reform (BERR) has said that no budget has been set aside for administrative and IT changes to the payment system but that the cost of making payments to small and medium-sized businesses within 10 days, rather than 30, would amount to £16 million in lost or added interest. The news follows the Prime Minister's announcement on 8 October that the Government would "ease the situation" for small businesses and alter its procurement rules to pay small firms as soon as possible.
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