madam president i would like to thank the commissioner for his excellent comments earlier on
this is excellent legislation and i would like in particular to compliment my colleague barbara weiler on the manner in which she brought this through
it is absolutely fantastic work and an example of the type of good legislation that we can bring through
it will provide a better flow of money around our economies and therefore is good for business small businesses and society in general
more importantly it will help us with the big issue facing us all at the moment which is the provision of jobs
this directive will provide clear strong principles that can be communicated in markets and member states to the effect that late payments will no longer be tolerated
this should create greater liquidity
companies getting paid promptly are more likely to be able to avail themselves of credit grow their businesses and generate and create employment
furthermore i know from recent insolvency court cases in my own country ireland and particularly in the construction sector that the many late payments end up becoming bad debts and bring companies to their knees
that has been the case for a company very close to me and mass redundancies have resulted from this
i also welcome the provision on positive naming
i think this is a good idea
it rewards good practice and creates incentives
let us not forget farmers
farmers have been suffering from failure to receive payments in time from processors and supermarkets
the multiples have been winning
hopefully these laws will give them a stronger negotiating position so that this vulnerable group in the food chain can also be better protected
