Tuesday, February 04 14:15:45
The vast majority - 96pc - of payments made by Government Departments to private sector firms, valued at E1.08bn., are settled within 15 days. According to John Perry, Minister for Small Business, today.
The quarterly composite figures show that Government Departments and the Agencies under the auspices of the Department of Jobs, Enterprise and Innovation continue to comply with the Government requirement to pay business suppliers within 15 days of receipt of a valid invoice, he said.
Figures released by the Department of Jobs, Enterprise and Innovation, show that Government Departments made a total of 59,270 payments in Quarter 4 of 2013 amounting to just under E1.13bn.
"Of the 59,270 payments made in this quarter, 52,362 payments valued at just under E1.08bn. were paid within 15 days. In value terms, this represents 96pc of the total payments made by Government Departments which clearly demonstrates that Departments are continuing their efforts to comply with the Government requirement to pay business suppliers within 15 days of receipt of a valid invoice," the Minister added.
Minister Perry also welcomed the continuing commitment by the Agencies under the auspices of his Department to pay their suppliers within 15 days.
"A total of 21,939 payments were made in Quarter 4 of 2013, amounting to just over E50.7m; of these, 20,051 payments amounting to E46.3m were paid within 15 days. In value terms, this amounts to 91pc of the total payments made by Agencies."
"It is clear that Irish business, particularly small businesses, continue to face many challenges, one of these being the issue of late payments. However, I am confident that through the measures which have recently been introduced, we can address the culture of late payments at both national and EU level."