Mr John Perry, T.D. Minister for Small Business, has published the latest sets of quarterly composite figures, which show that government departments and the agencies under the auspices of the Department of Jobs, Enterprise and Innovation are paying their suppliers on time an average of 81% of the time.
Minister Perry welcomed the continuing high levels of payments by all Government Departments and the Agencies under the aegis of his Department. “It is vitally important, that small businesses are paid quickly, so that they, in turn, can pay their respective creditors. This ripple effect helps cash flow for business and helps build up confidence in businesses right across the economy”.
Key Findings of Quarter 4 (October – December) 2011
These returns are the 10th set of returns by Government Departments.
- A total of 60,930 payments were made in Quarter 4 amounting to €1.481bn an increase of €575m on Quarter 3.
- Of these, a total of 49,894 payments totalling €1.448bn were paid within 15 days. These payments represent 81% of the total number of payments made by Departments. An increase of €564m on Quarter 3.
- In value terms, 97.8% were paid within 15 days compared with 97.6% in Quarter 3.
- 58,046 payments were made within 30 days by Departments in the above period amounting to €1.473bn an increase in value of €569m on the previous quarter
- A further 8,152 payments or 13.4% were made between 16 and 30 days;
- 9 Departments were paying in excess of 90% of invoices by value within 15 days;
- the other 7 Departments were paying in excess of 85% of invoices by value within 15 days and
- 15 Departments had paid between 93% and 100% of their invoices within 30 days, in respect of the number of invoices received, while the remaining one paid 89% of invoices within 30 days.
Agencies under the auspices of the Department of Jobs, Enterprise and Innovation
These are the 2nd set of returns by the Agencies under the auspices of the Department of Jobs, Enterprise and Innovation in accordance with the new arrangement of extending the 15 day prompt payment requirement to the wider public service. A total of 20,987 payments were made in Quarter 4 by the Agencies amounting to €50m; an increase in value of 56% on Quarter 3.
- 16,914 payments totaling €48m were paid within 15 days. These payments represent 81% of the total number of payments made by Departments.
- In value terms, 96% were paid within 15 days
- A further 3,809 payments or 18% were made between 16 and 30 days;
- 11 Agencies were paying in excess of 90% of invoices by value within 15 days; this is an increase of 5 Agencies since Quarter 3.
- The remaining 2 were paying between 64% and 71%% in value within 15 days
- All 13 Agencies paid between 89% and 100% of their invoices within 30 days, in respect of the number of payments made.
- ISME Warn of ‘Weasel Words’ from Superquinn Receivership on Suppliers Payments
- Companies still Waiting over 70 days for payment- ISME
- Resignation of Superquinn Chief Executive Highlights Suppliers Plight
- The Government Jobs Plan – The Main Points
- €10m Fund To Be Setup For Unsecured Superquinn Suppliers