Tags Tagged With Retail
Has The Vat Rate Change Failed?
In an interview for the BBC, David Cameron has claimed that the VAT Rate Change has failed, saying "The VAT cut has been an unbelievable and expensive failure." When we look at the numbers, it's hard to say otherwise - even after that VAT rate change, the numbers of shoppers was down in December compared to previous years data. Compared to last year, retail footfall was down 3.1% in December from a year earlier, traditionally a busy period in the run up to Christmas. On the VAT
Lower Uk Vat Rate Is Attracting Shoppers From Across The Border
While it has been widely argued that the UK VAT rate change has not made a significant impact, shop owners in Northern Ireland have been experience an unexpected, but very positive side affect. Prompted by high tax rates, a strong Euro and a need to save money, many shoppers from the Republic of Ireland have been making the journey north to shop in the UK, where the VAT rate is only 15%, after being cut from 17.5% last year. The VAT rate in the Republic, by contrast, is 21.5% In the past year