Prompt payment rule to expand

THE Government is to extend its prompt payment to businesses rule beyond its central departments to include the HSE, local authorities, state agencies and other public sector bodies.

Small Business Minister John Perry announced the move yesterday, on the back of the publication of figures for the first quarter of the year that showed that nearly 98% of outstanding Government payments to business suppliers are being made within 15 days.

The promptness in payment runs across all departments, with 12 of them paying more than 92% of invoices within the 15-day period.