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

Graham Watson

19th January 2021

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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.

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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.

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