HELP FOR SMALL BUSINESSES

Early day motion 1733, tabled 15 October 2002 by Kerry Pollard (Labour). Signed by 57 members.

That this House notes that cheques drawn on banks in the United Kingdom can take up to five days to clear; further notes that delays in payment can jeopardise the future of small businesses; believes that in the 21st century it is possible to transfer funds from one bank account to another rapidly by means of information technology; believes that banks profit from keeping such funds in high interest accounts before transferring to their destination; recognises that the economy depends on the success of small business; and calls on the Government to introduce legislation to force banks to clear cheques more speedily.

Signatures by party: Labour 32, Liberal Democrat 11, Labour/Co-operative 6, Plaid Cymru 2, Scottish National Party 2, UUP 2, Conservative 1, DUP 1.