{"id":38010,"date":"2018-01-26T12:14:06","date_gmt":"2018-01-26T12:14:06","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=38010"},"modified":"2018-01-30T13:51:26","modified_gmt":"2018-01-30T13:51:26","slug":"carillion-collapse-exposes-toothless-prompt-payment-code","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/","title":{"rendered":"Carillion collapse ‘exposes toothless Prompt Payment Code’"},"content":{"rendered":"

Carillion’s collapse has exposed the government-backed Prompt Payment Code as “toothless” and raised the need for urgent reforms to tackle late payments, an industry body has said<\/h2>\n

The Federation of Small Businesses<\/a> is calling on ministers to mandate that all FTSE 350 companies sign up to a new code with a “three strikes and you’re out rule” to target repeat offenders, who would be stripped of the right to be awarded public sector contracts until their payments practice improved.<\/p>\n

FSB chairman Mike Cherry said that despite being a signatory of the code since 2013, Carillion was notorious for late payments, with some FSB members waiting for 120 days to receive funds.<\/p>\n

According to the federation’s research, on average 30% of payments to small firms are late, with the average value of each late payment standing at \u00a36,142.<\/p>\n

It estimates that late payments cost the UK economy \u00a32.5bn and kill off 50,000 small businesses every year.<\/p>\n

“Sadly, this sorry saga has laid bare the frailties of the Prompt Payment Code. While it is fundamentally a good idea, it does not work when it is most needed – as shown with Carillion’s behaviour since July 2017,” Cherry said.<\/p>\n

“Although they were signatories of the PPC, Carillion<\/a> were able to use their dominant position to squeeze smaller firms to mask their own financial failings. This irresponsible behaviour has put many small businesses in jeopardy, with countless people fearing for their jobs.”<\/p>\n

Over 2,000 companies have signed up to the Prompt Payment Code. Under its terms, they commit to paying suppliers within 60 days, unless there are “exceptional circumstances”, and to work towards making 30 days the norm.<\/p>\n

The code is administered by the\u00a0Chartered Institute of Credit Management<\/a> on behalf of the Department for Business, Energy & Industrial Strategy<\/a>.<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Carillion’s collapse has exposed the government-backed Prompt Payment Code as “toothless” and raised the need for urgent reforms to tackle late payments, an industry body has said<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[824,676,664,283],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-38010","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-carillion","8":"tag-construction","9":"tag-construction-services","10":"tag-finance"},"acf":[],"yoast_head":"\nCarillion collapse 'exposes toothless Prompt Payment Code' | Planning, Building & Construction Today<\/title>\n<meta name=\"description\" content=\"Carillion's collapse has exposed the government-backed Prompt Payment Code as "toothless" and raised the need for urgent reforms to tackle late payments, an industry body has said\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carillion collapse 'exposes toothless Prompt Payment Code'\" \/>\n<meta property=\"og:description\" content=\"Carillion's collapse has exposed the government-backed Prompt Payment Code as "toothless" and raised the need for urgent reforms to tackle late payments, an industry body has said\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building & Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-26T12:14:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-01-30T13:51:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/01\/Carillion-\u00a9-Terry-Robinson.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steph Blundell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Steph_PBCToday\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\"},\"author\":{\"name\":\"Steph Blundell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\"},\"headline\":\"Carillion collapse ‘exposes toothless Prompt Payment Code’\",\"datePublished\":\"2018-01-26T12:14:06+00:00\",\"dateModified\":\"2018-01-30T13:51:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\"},\"wordCount\":297,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Carillion\",\"Construction Processes\",\"Construction services\",\"Financing\"],\"articleSection\":[\"Planning & Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#respond\"]}],\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\",\"name\":\"Carillion collapse 'exposes toothless Prompt Payment Code' | Planning, Building & Construction Today\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2018-01-26T12:14:06+00:00\",\"dateModified\":\"2018-01-30T13:51:26+00:00\",\"description\":\"Carillion's collapse has exposed the government-backed Prompt Payment Code as \\\"toothless\\\" and raised the need for urgent reforms to tackle late payments, an industry body has said\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Carillion collapse ‘exposes toothless Prompt Payment Code’\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building & Construction Today\",\"description\":\"The Latest Planning, Building & Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\",\"name\":\"Steph Blundell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"caption\":\"Steph Blundell\"},\"description\":\"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk\",\"sameAs\":[\"https:\/\/www.pbctoday.co.uk\",\"https:\/\/www.linkedin.com\/in\/steph-blundell\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday\"],\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Carillion collapse 'exposes toothless Prompt Payment Code' | Planning, Building & Construction Today","description":"Carillion's collapse has exposed the government-backed Prompt Payment Code as \"toothless\" and raised the need for urgent reforms to tackle late payments, an industry body has said","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/","og_locale":"en_US","og_type":"article","og_title":"Carillion collapse 'exposes toothless Prompt Payment Code'","og_description":"Carillion's collapse has exposed the government-backed Prompt Payment Code as \"toothless\" and raised the need for urgent reforms to tackle late payments, an industry body has said","og_url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/","og_site_name":"Planning, Building & Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2018-01-26T12:14:06+00:00","article_modified_time":"2018-01-30T13:51:26+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/01\/Carillion-\u00a9-Terry-Robinson.jpg","type":"image\/jpeg"}],"author":"Steph Blundell","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/Steph_PBCToday","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/"},"author":{"name":"Steph Blundell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb"},"headline":"Carillion collapse ‘exposes toothless Prompt Payment Code’","datePublished":"2018-01-26T12:14:06+00:00","dateModified":"2018-01-30T13:51:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/"},"wordCount":297,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Carillion","Construction Processes","Construction services","Financing"],"articleSection":["Planning & Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#respond"]}],"copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/","url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/","name":"Carillion collapse 'exposes toothless Prompt Payment Code' | Planning, Building & Construction Today","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2018-01-26T12:14:06+00:00","dateModified":"2018-01-30T13:51:26+00:00","description":"Carillion's collapse has exposed the government-backed Prompt Payment Code as \"toothless\" and raised the need for urgent reforms to tackle late payments, an industry body has said","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/carillion-collapse-exposes-toothless-prompt-payment-code\/38010\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"Carillion collapse ‘exposes toothless Prompt Payment Code’"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building & Construction Today","description":"The Latest Planning, Building & Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb","name":"Steph Blundell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","caption":"Steph Blundell"},"description":"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk","sameAs":["https:\/\/www.pbctoday.co.uk","https:\/\/www.linkedin.com\/in\/steph-blundell\/","https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday"],"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-10-03 07:55:19","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/38010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=38010"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/38010\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=38010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=38010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=38010"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=38010"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=38010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}