Retailers welcome scrapping of planned fuel duty rise
Retailers have welcomed the Chancellor’s decision to scrap plans to increase fuel duty in August.
The British Retail Consortium had called for the rise to be scrapped ahead of the Budget in March, pointing out it was an upward pressure on prices that made it harder for British businesses to compete internationally.
However the BRC said that the u-turn will not transform retailers’ fortunes as inflation continues to outstrip wage growth and consumer confidence remains low.
BRC director general, Stephen Robertson, said: “The announcement from the Chancellor that he will freeze duty for the rest of the year is a helpful sign that he is aware of the difficulties businesses are facing at the moment. Quicker action on this would’ve given retailers more certainty in planning for the year ahead but it’s still a move we are extremely pleased to see.
“Reviving consumer confidence will be a slow process but moves which ease the pressure on household finances do help.”
