Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-396"
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"en.20101020.21.3-396"2
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"Late payments in commercial transactions between undertakings, and between undertakings and public authorities, are one of the things currently hampering the recovery of economic growth. Approval of the new directive on combating late payment in commercial transactions represents a major innovation that will require appropriate preparation, above all, of the public sector, in both political and administrative terms. In political terms, so that financial and budgetary planning can take account not only of the impact of European Union rules on the Stability and Growth Pact, but now also of the impact of the new rules on late payments, which, if not satisfactorily managed, could have both a direct and reflex effect on the room for manoeuvre of governments at various levels. In administrative terms, appropriate preparation is required for the correct financial management of public bodies, beginning with the ratio between liabilities and expenditure, so that tax revenues and, hence, the people, are not weighed down by burdens such as interest payments which could have a significant effect on public finances. Finally, it seems important for there to be particular awareness and flexibility regarding several sectors, such as the health sector, in which the public authorities have run up significantly late payments owed to undertakings, for regular goods and services provided."@en1
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