Taoiseach announces plans to cut Government payment periods

The Taoiseach has announced plans to cut the payment period by central Government Departments from 30 to 15 days to help businesses.

Brian Cowen said local authorities were also establishing business support units to fast-track dealings between companies and councils.

Talks are planned with local authority mangers to find ways to provide extra support for start-up enterprises, reduce red-tape in planning and improve cash flow to businesses.

The reduced payment period of 15 days could also be extended to the local authority, health and education sectors.