EU debates fines for public sector late payers

Posted by Jon Wilcox in Finances, Regulation on Thu, 28/01/2010 - 11:12
Calls to impose penalties on public sector bodies which take too long to pay for services supplied by small and medium sized businesses have been debated by European politicians.
 
MEPs from the European Parliament’s Internal Market Committee, and representatives of 21 nation states discussed whether late paying public sector authorities should face tougher sanctions than their private sector counterparts.
 
Delegates agreed tardy payments from the public sector caused difficulties for many small and medium-sized businesses throughout Europe, with some bodies described as ‘the worst culprits’.  A revision of the late payments directive is now being considered by the European Parliament, which would aim to help SMEs continue as an "innovative, job-creating source of economic dynamism", according to Barbara Weiler MEP.
 
Despite this, many argued it was unfair to implement tougher sanctions on late paying public sector bodies.

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