Government Must Commit To No VAT Increase

Article Added: 2011/09/28

Clonmel Chamber has today (28/09/11) called on the Government to commit to not increasing the rate of VAT in the forthcoming budget. The call was made as the Retail Sales Index for August 2011 shows that the volume of retail sales decreased by 3.6% in August 2011 when compared with August 2010 and a monthly decrease of 0.4%.

 

Brian Cleary, Chief Executive said, “Consumer confidence is fragile. In the lead up to Christmas, traditionally one of the busiest times of the year for many retailers, consumers need to know what to expect in Budget 2012. An assurance that VAT will not be increased can help to protect against a further decline in retail sales. Stability is needed in order to restore confidence and increase domestic consumption.”