UK VAT rise good news for local retailers
Local Fianna Fáil TD Niall Blaney said that the decision by the British Government to increase the UK VAT rate is good news for local retailers. 22/06/10It has been announced as part of the UK Budget that the VAT rate is to be increased from 17.5 per cent to 20 per cent from next January.
This will help even the playing field between retailers on either side of the border, he said.
“The numbers of people crossing the border for their shopping has declined in the last number of months, but news that the UK Government is to increase its VAT rate should come as further good news for local retailers.
“A survey of national footfall in April by research company Experian found that in February and March the number of shopping centre visitors in the Republic increased for the first time in two years, but dropped in the North.
“The cuts in VAT and excise duties introduced by the Government in Budget 2010 helped towards this easing of cross border shopping and this move by the UK Government should ensure that the playing field is levelled further.
“Local retailers are doing their best to be competitive and to give their customers value for money and I hope that this move in the UK Budget will further encourage people to give their business to local retailers. Buying locally means supporting local jobs and everyone should remember that when they are choosing where to give their custom,” concluded Niall Blaney TD.
