Taylor Wimpey offer Subcontractor Support

Taylor Wimpey are pleased to announce that they are offering subcontractors support during the Coronavirus outbreak.

The house-builder, like many other companies in the construction industry are facing an uncertain time, with unprecedented circumstance. In order to support their supply chain and subcontractor through the current global pandemic, will be led by three principles:

• Clear, open and honest communication
• Prompt Payment
• Targeted help and support to the most financially vulnerable

Clear, Open and Honest Communication

When the COVID-19 outbreak began, Taylor Wimpey wrote to all of their suppliers and subcontractors, here they pledged assistance where it could be provided, and committed to increased visibility of all plans and routes of communication. With their national procurement team sharing weekly update session will all major suppliers when the time is right. This means the company will be able to return to work in a safe, well-managed manor in partnership with suppliers.

Prompt Payment

Due to the rate of the COVID-19 pandemic has accelerated, Taylor Wimpey recognise that many of their subcontractors cash-flow could come under significant pressure. Seeing this, the housebuilder took an early opportunity to reassure those they work with they would remain committed to processing their invoices as quickly as they can at this time.

This is where targeted support in the form of the Taylor Wimpey Pay It Forward Scheme would come in, making sure that their most financially vulnerable would be entitled to the help and support they need.

The scheme will make advance payments for any future work done by subcontractors where they have a long-term relationship with Taylor Wimpey. These payments will be made from Taylor Wimpey via the subcontractor, to the self-employed individuals who either do not benefit from the Government’s Self-employed Income Support Scheme, or those who may experience significant hardship before the scheme starts making payments.

Peter Redfern, Chief Executive said: “Our community of suppliers, subcontractors and self-employed trades people that we work with is very important to us and to our ability to provide high quality homes for our customers Taylor Wimpey has managed its business in a conservative and cautious way in recent years which, together with additional liquidity measures we have put in place during this crisis.

“As well as committing to pay our supply chain on time throughout this crisis, we will also be setting up the ‘Taylor Wimpey Pay It Forward Scheme’ to help self-employed individuals who will experience significant hardship before the Government scheme start to make payments. Supporting those we rely on is not only the right thing to do but will help ensure we emerge from the COVID-19 pandemic in the best possible play with out community of trades people ready to help us resume the building of much needed high quality homes for our customers, when we are all in a position to do so.”

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