NSW COALITION POLICY REQUIRING BILLS TO BE PAID IN 30 DAYS

NSW COALITION POLICY REQUIRING BILLS TO BE PAID IN 30 DAYS

26 Fedruary 2009

Under a future NSW Coalition Government State Government accounts will be required to be paid within 30 days with penalty interest able to be charged if the deadline is not met.

Shadow Minister for Small Business, Don Page MP, said that this policy is essential to easing the burden on small business in NSW.

“Small businesses in NSW are currently carrying excessive amounts of outstanding debt from the NSW Labor Government. It is simply not acceptable business practice,” Mr Page said.

FOI data obtained by the NSW Liberal/Nationals showed that there are 75,477 late invoices worth an average of $1,749 each.

“A NSW Liberal/Nationals Government will have a mandatory code of practice that requires public sector accounts with small business suppliers involving contracts of up to $1million to be paid within 30 days,” Mr Page said.

The policy commits to payment within 30 days with penalty interest able to be charged after that time.

“This policy is in line with current Federal Government policy and there is no reason why the current State Labor Government should be so tardy with its bill payments.

“Small businesses are under an enormous burden with the current financial downturn. They must have reliable cash flow to remain viable in these difficult times.

“It is not acceptable for the NSW Labor Government to flout the standards widely accepted in the private sector and by the Federal Government,” Mr Page said.

“Small business is the engine room of this state. It is an appalling way for this State Labor Government to treat the bread and butter providers of NSW.

“In Government the Liberal/Nationals will treat small business operators with the respect they deserve,” Mr Page said.

Lismore Contact Details:

Office: 55 Carrington Street  LISMORE
Postal: PO Box 52  LISMORE  NSW  2480
Telephone: 02 6621 3624
Facsimile: 02 6622 1403
Email: lismore@parliament.nsw.gov.au

Murwillumbah Contact Details:

Telephone: 02 6672 7577