Late payments cost the economy billions yearly, sums which absolutely cannot be afforded in these times of economic crisis. The European Commission’s proposal to ensure that public authorities pay up more quickly can therefore count on support from the SP. The SP believes, however, that it should go further, and add a proviso that firms should also pay each other within thirty days of being billed. European Parliamentary group leader for the SP Dennis de Jong explains: “A term of thirty days backed up by a ‘fine’ when payment is not received on time would be a good rule. I find it incredible, however, that the Commission, referring to ‘freedom of contract’, is not willing to extend this rule to contracts between firms.”
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