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Retail Excellence: Budget 2019 Represents A Missed Opportunity For Retail

Published on Oct 9 2018 4:42 PM in Retail tagged: Trending Posts / Retail Excellence / Lorraine Higgins / Budget 2019

Retail Excellence: Budget 2019 Represents A Missed Opportunity For Retail

Retail Excellence has said that some announcements in terms of infrastructure, housing, tax reductions and the new Online Retail Scheme are to be welcomed, Budget 2019 represents a missed opportunity for Government to adequately support the largest private industry employer in Ireland – Retail.

In a statement the Irish retail industry body said that the modest reductions in USC, the increase in welfare payments and the restoration of the Christmas bonus represents an ambitious plan by Government to increase consumer sentiment and spend.

“Whilst such initiatives may lead to an increase in consumer spend, where this spend goes is critical to the industry we represent," Lorraine Higgins, CEO of Retail Excellence.

"With the huge growth in online purchases by Irish consumers from outside the EU we sought extra protections to ensure parity of tax treatment for retailers in Ireland from Distance Sellers.”

Missed Opportunity

“Currently the Revenue Commissioners are tasked with collecting VAT and duties on parcels being delivered to Irish consumers but it is physically impossible for them to intercept €14 million worth every day," Higgins added.

"This is a missed opportunity given the extra funds it could have generated and been subsequently redistributed."

Online Retail Scheme

Higgins however, welcomed the news that the Minister for Business Enterprise and Innovation doubled the investment in the Online Retail Scheme to €1.25m to support the digital online capability of retailers in Ireland.

"We have been advocating for such supports and for Government to recognise the export potential of the industry so, this is most welcome.”

© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition. 

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