Nash warned prompt payments law may backfire

Wed, 26 Feb 2020

While Minister for Small Business Stuart Nash says he will legislate if necessary to ensure prompt payments for small businesses, officials have warned a proposal for a 20-day payment time limit may backfire. Nash released a discussion document today considering stricter rules around payment practices between small businesses. Feedback on the discussion document is open until April 14. “Late payments from large organisations to smaller suppliers can be crippling for these businesses,” Nash said.The proposals are for a maximum term of...

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