Debts law fails to make businesses pay up faster_2

7 September 2012
Legislation to make companies pay bills on time has been branded "a failure" by a new report.

A study of 30,000 companies by business information group Experian found firms are waiting longer to be paid than when the Late Payment of Commercial Debts (Interest) Act was introduced in 1998.

Companies now wait an average of 58 days to settle invoices, compared with 57.5 days in 1998.

A spokesman for the Department of Trade and Industry said: "It is...

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