Commercial Payments Bill [HL]

Labour will take action on late payments to ensure small businesses and the self-employed are paid on time.

The bill's long title explicitly states it will 'make provision about payment terms in commercial contracts; to make provision about interest on late payment of commercial debts' and 'expand the powers of the Small Business Commissioner in relation to payment disputes and poor payment practices'. These provisions directly address taking action on late payments to ensure small businesses and the self-employed are paid on time. The bill introduces new measures specifically targeting late payment issues affecting small businesses, which fulfils the promise to 'take action on late payments' and introduces 'new late payment measures' as specified in the metric.