BRC BUDGET RESPONSE

The British Retail Consortium (BRC) gave the Chancellor 8 out 10 for his Budget saying he could have gone further on reducing the business tax burden but had made some positive announcements on jobs and the environment.

British Retail Consortium Director General Kevin Hawkins said: “As always the devil may turn out to be in the unannounced detail but the Chancellor has rightly made a worthwhile reduction in Corporation Tax and the anticipated ‘green’ measures seem very sensible.”

On Corporation Tax Kevin Hawkins said:

“The cut in Corporation Tax is good news. It is being somewhat offset by cuts in a number of tax reliefs but is a welcome simplification and a decisive move in favour of jobs and investment.”

On the environment

“We called on the Chancellor to cut VAT on energy efficient products to five per cent. He could have done that in the UK immediately but his pledge to push for Europe-wide agreement is welcome. If the EU is serious about reducing carbon emissions it will back this initiative. It is a pity that incentives for small scale renewable energy equipment such as wind turbines and solar panels are confined to homes but the Chancellor has conceded the principle. We hope this will be extended to business premises next year.”

On Local Employment Partnerships   

“This is an imaginative and practical scheme. It is not some abstract plan dreamt up by bureaucrats but builds on the help a number of major BRC members are already offering to enable people lacking the skills or self-confidence to get into the workforce more quickly. The BRC will be working to widen retail support for it.”