Many retailers and other small businesses will be waiting with baited breath on the Chancellor’s Budget announcement on the 23rd March.
With the Budget announcement due later this month the British Retail Consortium are urging the Government to supply more support to retailers and shop owners.
The BRC are calling for understanding from the Chancellor, following a number of changes that they believe have caused retailers some major problems.
With retail companies having to absorb a huge £670 million of “government-imposed costs” the BRC also pointed out that the 2.5% VAT increase and the rise in minimum national insurance contributions, many small retailers will struggle to meet these demands.
The Director General of the BRC, Stephen Robertson, suggested that the sector requires adequate support to help improve the state of the economy and stimulate growth.
Mr Robertson went on to add:
“Our absolute priority is to be at the centre of the recovery – to be able to go on maintaining and creating jobs. Sadly, a million young people are without work. Retail already employs one million young people, starting their careers, and we’d like to be able to take on more.”
Let’s hope Chancellor George Osborne makes the right decisions this month – especially with other affecting factors such as the ridiculously high cost of fuel, business taxes and ultimately support British business to help stimulate economic growth over 2011 and the years to come.