Despite the worrying situation, delinquency figures have been declining. The report states that both the private and public sectors in 2020 paid their bills with an average delay of 77 days, and in 2021 companies have reduced this figure by 6% and administrations by 21%. However, the Platform warns that, if no new measures are applied, from May the data may worsen again because there will no longer be the extra injection of money received by the autonomous communities to deal with the covid, s’ the grace period for ICO credits will end, and small and medium-sized businesses will have to repay the money borrowed.
In this context, the Spanish government has approved the law create and grow, among other things to reduce late payment of bills. With the new legislation, all business relations between companies must issue and send electronic invoicing to ensure greater traceability and control of payments. “If you don’t have information at the outset, it’s very difficult to know where the problems are coming from,” the finance ministry told ARA. He also predicts that companies that do not meet the legal deadlines will not be able to access public subsidies, “a very important element if we take into account the volume of money that is now with the funds.”
The Platform, however, believes that the law creates and grows it is a smokescreen and that is insufficient. In this sense, Cañete says that there are many companies that do not receive subsidies and that, therefore, this coercive measure does not affect them. “Sanctions are needed, if you take measures that force them to pay when it’s time, they will have no choice,” he said.
In fact, on September 22, 2020, the Congress of Deputies approved by a large majority the processing of the bill presented by Junts per Catalunya to launch a sanctioning regime against delinquency. The initiative, which had 344 votes in favor and one abstention, provides for penalties of between 6,000 and 100,000 euros for the most serious, and up to one million euros for the most serious. In addition, it includes the prohibition of agreeing on a term longer than that established by law between the parties.
Large companies receive public money to pay daily and do not use it for the good of the economy, but for their own benefit. This is very serious and action should be taken. ”
Antoni Canete President of Pimec and the Multisectoral Platform against Delinquency
Despite the unanimity of almost all the deputies, the period of amendments has been extended – it has accumulated 49 extensions – and the bill remains stalled in the Spanish Chamber. “I hope that in the coming weeks it will be untied,” MP (now PDECat) Ferran Bel, who defended and registered the initiative, told ARA. Bel, though he believes the law measures creates and grows they can help to a certain extent to reduce delinquency, he also considers that they are not strong enough. “If you want to achieve a change of attitude in short-term payments, sanctions must be applied,” agrees the Platform.
The Ibex-35, the worst payer
The private companies that take longer to pay their suppliers are precisely the largest and, in return, the ones that come out the worst are SMEs, which have less economic volume and many cannot afford to charge with such a delay. . The report notes that the average Ibex-35 is charging in 66 days and is paying for more than 200 days, and that only 20% of large companies pay within the real timeframes. This, according to Cañete, means that many SMEs have to work hard to get out of it and that, according to the survey carried out by the Platform, 73% see the viability of their business endangered.
In this sense, Cañete accuses large companies of accumulating liquidity that they should have already paid and, thus, finance themselves at the expense of their own suppliers. In addition, in July 2021, the President of the Platform said that they knew that a significant part of this cash could be used to repurchase shares in the market to increase its value. “Remember that they even receive public money to pay daily and do not use it for the good of the economy, but for their own benefit. This is very serious and action should be taken,” said Cañete.