During the debate, the Assembly passed an Alliance amendment calling on measures to be extended to departments, their agencies, arm’s-length bodies, and local government, that the same prompt payment requirements would be extended to sub-contractors down the supply chain.

The Lagan Valley MLA has said: “Small business owners have enough to be concerned with, like growing and developing their businesses, without the added pressure from cashflow issues.

“I’ve seen first-hand the detrimental impact this stress can have on business owners, and it needs to be addressed. When money is there, allocated and waiting to be paid for the job completed, the public sector should be aiding businesses’ cashflow by paying them in a timely manner, not adding to the problem.

“In terms of what I want to address with my own PMB, the days of the main contractor on government contracts getting paid in 30 days, but taking 90 to 120 days to actually pay the people that supply the work has to end. Current practice is that the main supplier must be paid within 30 days, and my bill proposes this 30-day limit should be extended to sub-contractors.

“Further, I would then see interest penalties automatically applied when a public sector invoice is not paid within the statutory 30-day time frame, and legislation to ensure that public sector payment data is properly recorded and published.

“I look forward to meeting and discussing this issue with the Minister of Finance further on Wednesday.”