Retail NI Comments on Chancellor’s Statement

Commenting on today’s statement by the Chancellor, Retail NI Chief Executive Glyn Roberts said:

“There are a number of positive measures in this statement such as the Furlough bonus, increased investment in infrastructure and support for our hospitality sector”

“However, there is little in this economic update to boost consumer confidence and to get people spending again in our retail sector. A temporary reduction in the headline rate of VAT would have been helpful in achieving this”

“The Government also needs to provide further clarity on whether local shops with hot food counters will be able to benefit from the VAT cut and ‘eat out to help out’ discount announced during his statement.”

“The Chancellor should have also looked at introducing some form of a voucher scheme to boost consumer spending with independent retailers”

“Overall the measures announced in this statement should have been more ambitious”

Glyn Roberts 07515710517