Thursday 1 November 2012

Stephen Metcalfe MP secures House of Commons debate in support of small business


Stephen Metcalfe, Member of Parliament for South Basildon and East Thurrock, and Andrea Leadsom, Member of Parliament for South Northamptonshire, have secured a debate on the floor of the House of Commons to help Small and Medium sized businesses by highlighting the problem of late payment in the supply chain of public sector contracts.

This timely debate will address the rising problem of late payment in the public sector which is crippling businesses up and down the country.

Stephen Metcalfe commented: “Small and medium sized enterprises (SMEs) are currently owed in excess of £30 billion. This is simply not acceptable. In business, cash flow is king and when this flow is interrupted a contract can become a problem rather than a solution. At best it can cost business money in terms of financing overdraft facilities at worst it stifles growth and can affect the very viability of a business.”

The debate, which will take place on Thursday 8th November, has received wide cross-party support.

Mr Metcalfe added: “I am delighted to have secured this debate. It will give me and my colleagues the opportunity to stand up for all businesses who have suffered as a result of late payment in the public sector. Addressing this issue is unavoidable if we are serious about stimulating growth in this country and I look forward to hearing the Government’s response to the points that are raised. Ultimately, we hope that the Chancellor, following the debate, will include measures which tackle this problem.”