21 September 2020
13:00 - 14:30
In June last year, it was announced that the Prompt Payment Code would be strengthened and reformed, 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.
The first step – now completed – was transferring the administration of the Code to the Office of the Small Business Commissioner, and BEIS are now entering into a period of engagement with Prompt Payment Code signatories and other interested stakeholders about what a strengthened Code might look like.
Throughout the COVID-19 pandemic almost 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 further improving payment practices across companies of all sizes.
CBI members have an important part to play in shaping the future of the Code and Paul Scully MP, (Minister for Small Business, Consumers and Labour Markets at BEIS), will be joining us. The event will be chaired by Josh Hardie, (Deputy Director-General, CBI).
The purpose of the event is to seek your views on changes that could be made to the Code to improve and strengthen it. We will also discuss how to raise its profile and encourage more firms to become signatories.