Budget 2015: Retail Ireland Reaction
Published on Oct 14 2014 10:21 AM in Retail
Ibec group Retail Ireland has said the 'consumer friendly' elements of Budget 2015 will provide support to the retail sector. "Cuts to income tax will boost consumer spending and support job creatio...
Ibec group Retail Ireland has said the 'consumer friendly' elements of Budget 2015 will provide support to the retail sector.
"Cuts to income tax will boost consumer spending and support job creation," said Retail Ireland Chairman Frank Gleeson. "The Budget will put more money back into the economy, and this will ease the pressure on the embattled retail sector. After years of tax hikes, there is now some relief for Irish consumers."
Gleeson added that tax reductions and changes to the USC are a "clear signal that the tough years of austerity are finally behind us. Retailers also welcome the retention of existing VAT rates and the freeze in excise duties on alcohol and fuel. Combined, this will provide a major boost to consumer sentiment in the run up to the busy Christmas trading period.
"The value and volume of retail sales have increased every month for the past nine months. Consumer confidence is now at its highest level since 2007. The measures adopted in Budget 2015 will further strengthen this positive momentum."
Retail Ireland said that the moves will "help safeguard retail’s future as Ireland’s largest industry and most geographically-diverse employer."
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