Business bodies back pay move

BUSINESSES should have their bills paid by national authorities and other businesses within 30 days under new rules agreed by the European Parliament.

The decision was welcomed by business organisations as a major help to SMEs especially those who are having a tough time in the current economic climate, but member states have up to two years to introduce the legislation.

Businesses can agree to exceed the 30-day limit between themselves while member states can extend the deadline up to 60 days for healthcare providers – often the worst offenders.