Lambeth Conservatives have called upon the Labour-run Council to support local businesses during the recession by cutting the time it pays invoices from small businesses from 30 days to 10.

The reduction would help support local firms during the recession by stimulating the local economy, increasing cash flow and promoting stronger business links with the Council.

The demand is a key plank of the Conservatives “Shadow Budget” that will be put to the Council’s yearly budget setting meeting on Wednesday 25th February.

Leader of the Conservative Group, Cllr John Whelan, said:  “Businesses tell me that cash flow is the number one difficulty for them at the moment and prompt payment of bills really could make a very big difference for some firms.  Currently, Lambeth is failing to meet its own target of settling its bills in 30 days - a point conceded at the most recent meeting of the Labour Cabinet in Lambeth.  Lambeth really must do everything possible to help our local businesses’ and this would be a very straightforward and welcome start.”