Prompt Payments by Large Businesses

That the Parliament acknowledges that five leading companies, Diageo Scotland Limited, Diageo Global Supply IBC Limited, Diageo Northern Ireland Limited, Diageo Great Britain Limited and Unilever UK Limited, have been formally removed from the Prompt Payment Code after failing to honour their commitments; understands that the voluntary Prompt Payment Code requires companies to pay 95% of invoices within 30 days to their small suppliers and pay 95% of all invoices within 60 days; believes that, as small businesses recover from the pandemic, the last thing they need is for companies to hold back cash that is owed to them, and urges large companies to sign up to the Prompt Payment Code to support smaller businesses and promote good business practice.