Economics

In the News

Monopsony: Big businesses told to speed up payments to small suppliers

19th January 2021

In strengthening the Prompt Payment Code, the UK government seem to be striking at the monopsony power of larger firms when it comes to paying smaller suppliers.

It will be interesting to see whether this will also be applied to supermarkets who are renowned as late payers, although the Grocery Code Adjudicator (GCA) should regulate this sort of thing.

Big firms to pay small companies within 30 days https://t.co/fK2x567qz5
— BBC Business (@BBCBusiness) January 19, 2021

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.