Autumn statement – Chancellor must remain cautious
The Chancellor must be realistic about the strength of the economy warned the British Retail Consortium (BRC)
Reacting to his Autumn Statement today, (Monday) the BRC said the improved growth figures are good news but consistently weak retail results show how fragile that growth is.
British Retail Consortium Director General Stephen Robertson said: “Stronger growth is a good thing but the Chancellor should remain cautious. Weak retail figures show how uncertain growth is, even in a sector already producing new jobs.
“In real terms, retail sales have been down year-on-year every month since June. Consumer confidence continues to fall. People’s worries about job prospects and personal finances are mounting. The, very necessary, public sector cuts together with January’s VAT rise have still to hit.
“The Chancellor should use his, better than expected, position as an opportunity to ease tax burdens on businesses and householders and get back to the 80:20 balance between cuts/taxation he promised.
“Using any extra money he finds himself with to hold back next April’s business rates increases and to remove the £1 billion carbon reduction stealth tax he’s slapped on businesses would support retails’ dual role in growing jobs and the economy while holding down household bills.”
