UK Tightens Rules on Late Payments to Help Smaller Firms
Under new legislation, Britain's small business commissioner, an independent body which supports small firms to get paid on time, will be given stronger powers to levy fines against the biggest firms who persistently pay their suppliers late, the Department for Business and Trade said late on Wednesday in an e-mailed statement. It billed the proposals as the 'toughest laws on late payments' in the G-7 group of major industrialized nations.
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