This article was last updated on April 16, 2022
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The leader of Labour National Party (LNP) Campbell Newman spoke to the media Thursday morning and said that the LNP government will make all timely payments to their supplier, and if by any chance it fails to do so, suppliers will be given the additional interest which will be due.
Further adding to his comments, he explained that the policy applies to those deals which are unable to meet their new payment deadlines and the payment amount is more than $1 million, with a special focus on small and medium size businesses. Previously, the government received an extension of 30 days to make its outstanding payments. They policy will apply to the contracts which received the extension date. Newman highlighted the matter at the time of his campaign in Ashgrove.
He said, “Small businesses are the engine room of jobs and the economy but they’re also vulnerable to cash flow issues. If a government who is contracting with them won’t pay and is extending bills out 60, 90, 120 days and not paying them, then that can send small businesses to the wall and it can cost jobs.”
Speaking on the occasion Newman also announced that $3.5 million will invested to attract more and more students to the Australian Agriculture College Corporation and an additional $3 million will be invested in development and research of horticulture and agriculture areas over a period of four years.
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