Miliband supports BMF on fair payment

Published:  12 December, 2014

Ed Miliband MP has expressed support for the Builders Merchants Federation’s (BMF) stance on the question of late, part or non payment of bills.

The BMF’s Brett Amphlett recently addressed Mr Miliband at a major Labour Party event in the City of London, where the Labour Leader delivered a keynote speech on how the next Labour government will deal with the deficit and balance the books. Mr Amphlett put across that if we want a strong economic foundation, the country needs strong supply chains because it supports business to create wealth.

“You are totally right, because it helps firms create wealth, and makes for better lives for the people you represent,” was Mr Miliband’s response.

The BMF’s intention is to explain to politicians that late does not mean extended, and that unpaid invoices are a significant convertible asset to merchants that act as ‘bankers to the trade’.

The Labour Leader heard the BMF’s call to throw his weight behind efforts by his MPs who shadow Coalition Ministers in the Department of Business, Innovation & Skills. Mr Miliband said it was a problem that both main political parties have tried to tackle – and that he supported the BMF in campaigning for fair payment of merchants’ bills.

Challenged about a possible VAT rate rise, Mr Miliband answered: “I would steer you well away from any Labour government raising VAT. It hasn’t happened in the past, so I don’t think it’s going to happen in the future.”

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