Irish Republic aims for 15-day supplier payments

9 March 2009
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09 March 2009 | Martha McKenzie-Minifie

The Republic of Ireland is cutting the length of time central government departments take to pay suppliers, from 30 days to 15.

Taoiseach Brian Cowen pledged to halve the payment period to help the cash flow of businesses.

It follows a similar move in the UK last December, when central government departments were told to pay suppliers within 10 days.

Speaking at the Small Firms Association's National Small Business Awards last week, Cowen said the scheme could be extended. An assessment would be completed by the end of April to gauge the impact of introducing the 15-day goal to local authorities and the health and education sectors, he said.

SMmar2009

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