00:00Late payment is the number one issue raised by smaller businesses with their business organisations and with the government.
00:06And it costs a staggering amount of money to the country every year.
00:10About ÂŁ11 billion in lost economic activity.
00:1338 businesses close a day because of problems with late payment.
00:17So we are going to become the government that actually tackles this.
00:20The UK will become the country in the G7 with the most robust framework around us.
00:25A whole series of changes including some legislative changes that we will do.
00:28I think most people would say if you are a small business delivering goods or services you should be paid promptly for us.
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