Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Britain to investigate Capita over training services contract

Published 11/02/2015, 15:20
© Reuters.  Britain to investigate Capita over training services contract
CPI
-

LONDON (Reuters) - The British government is investigating complaints that outsourcing firm Capita (L:CPI) overcharged and made late payments to partners in a 250 million pound ($382 million) government contract to provide training services.

Capita, which runs a range of contracts from back-office IT to pension schemes, had its contract extended two years ago to manage the provision of training across Britain's Civil Service, which included delivering half of the training as well as managing smaller enterprises to provide the rest.

However, a group of 12 companies involved in the scheme have formed a consortium claiming that Capita routinely paid its invoices late, took excessive fees for administering contracts and that it included "non-compete clauses" in its agreements which prevented them from doing further work for the government without Capita's permission.

The firms said the contracts left them facing a drop in turnover, resulting in some going out of business. Three firms have been forced to cease trading, while others have had to leave the UK market, according to Britain's Independent newspaper.

The Cabinet Office said on Wednesday it was investigating the claims of the suppliers.

Capita said it had awarded 59 percent of the training to small and medium-sized (SME) companies, representing 45 million pounds of supplier invoices. It said it was currently paying more than 92 percent of valid invoices on the contract within 30 days.

"Capita has an excellent track record of working with and engaging SMEs and refutes any allegations that it has acted wrongly in this matter," a spokeswoman said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.