One Nation Announces Timely Payments Policy
Today we’ve launched our new ‘Timely Payment’ policy.
With more than 2 million small businesses across the country, employing the bulk of Australians, cash flow is critical.
One Nation believe any business should not have to wait any longer than 30 days from the end of month to receive payment for work they’ve carried out.
Read our proposal on our policy page here: https://www.onenation.org.au/policies/timely-payment/.
Recent News coverage
Hanson champions small business against corporate pay delay
Pauline Hanson has called on Labor and the Coalition to legislate for a mandatory system to ensure small businesses are paid within a set time.
Senator Hanson said small business was suffering from a “lack of cash flow’’, with larger companies and multinationals delaying the payment of invoices on products and services for months.
Small Business and Family Enterprise Ombudsman Kate Carnell last year led an inquiry into late payments, with thousands of businesses complaining that there was little to force prompt payments apart from expensive legal action.
The inquiry led the Coalition government to introduce a new system of payments for government suppliers. From July, the federal government aims to fast-track all invoices under $1 million by 10 days, meaning businesses will receive payment within 20 days.
Senator Hanson said those measures failed to tackle the problem in the private sector. “With more than two million small businesses across Australia, cash flow is critical. The inquiry identified businesses with a lack of cash flow reduced their ability to operate appropriately and was the leading cause of business insolvency.
“Small and medium-sized businesses should not be used as a cheap source of finance through extended or late payment terms,” she said.
“Voluntary codes of conduct relating to payment terms are no longer acceptable as Australian banks and credit services tighten their lending criteria.”
Some of the largest offenders of extended or late payments were multinational companies operating within Australia, Senator Hanson said.
“Those include mining companies, large supermarkets and transport companies.”
Under a One Nation policy, companies must pay invoices within “30 days from the end of the month … unless agreed at the outset of the contract’’.
The policy, which Senator Hanson said would be a priority in any crossbench negotiations with a Coalition or Labor government, proposes that the system could be enforceable by state-based administrative tribunals.