The Government will order state bodies and public sector agencies to pay their suppliers quicker in a bid to ease the cash-flow crisis affecting Irish businesses, The Sunday Business Post reports.
Since last June, Government departments have been obliged to pay their bills within 15 days of receipt of a valid invoice and this policy will now be extended across the broader public sector. At present, non-government agencies have a calendar month to pay.
A recent survey by the Small Firms Association (SFA) found some businesses have had to wait almost 11 weeks for payment. The SFA also claimed the health service was ignoring the government commitment on settling its bills.