Following the Department for Business, Energy and Industrial Strategy’s (BEIS) publication of the Government Response to the Creating a Responsible Payment Culture Call for Evidence, it was announced that the Prompt Payment Code would be strengthened and reformed.
The first step was transferring the administration of the Code to the Office of the Small Business Commissioner. BEIS would now like to engage with interested stakeholders about what a strengthened Code might look like.
Throughout the Covid19 pandemic over 300 organisations have signed up to the Code. BEIS is keen to maintain this momentum and see a reformed Code as a key lever in improving payment practices across companies and organisations of all sizes.
Views are wanted on what the future Code might look like, you can submit your views here and the closing date is 16 October 2020.