Home > Uncategorized > Right message. Wrong detail

Right message. Wrong detail

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As has so often been the case with the current Labour party, basic messages have been undermimed by a seeming poor grasp of detail.

No one should really object to Corbyn’s message at the FSB attacking late payments by corporations but the names mentioned had this credit manager scratching his head. BT are not known to be offenders at all and in my limited experience I’ve found that they stick pretty closely to agreed terms. M&S do not have the reputation of other supermarkets and I’ve not known the other firms mentioned to be signalled as a problem for invoice financiers, which is often a reliable indication of payment habits.

However, almost all of the companies named by Corbyn, including M&S, Capita and BT Group, disputed the figures in the speech.

An M&S spokesperson said: “We don’t recognise these numbers at all. Over 99% of our supplier invoices are paid on time and we are signatories to the prompt payment code.”

A BT spokesman said the company spent £9.3bn with UK suppliers last year, 40% of which went to small businesses. “During 2015/16 the average number of days between BT being invoiced and payment to UK suppliers was 54 days, well below the figures claimed in this report, which we do not recognise,” the spokesman said.

Capita said it did not recognise the figures either and said 90% of invoices were paid within 30 days of receipt. A National Grid spokesman said the company was a signatory to the prompt payment code and “consistently pay at least 90% of our invoices on time”.

Vodafone said it paid SME suppliers 45 days on average from the invoice date. “We pay 90% of our invoices on time and, where this is not achieved, the most significant factor is receiving the invoices late from the supplier,” a spokesman said.

Apparently this information was culled from Experian but I believe that if yor are going to name and shame in public then you should check details from more than one source

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