08 Jul 2020

‘Disappointment’ over mini-Budget from Bira

BAGMA's parent group, Bira has expressed its disappointment that Chancellor Rishi Sunak’s mini-Budget does not directly help retail business owners.

Mr Sunak announced a raft of further measures to support the recovery of the economy following the coronavirus lockdown, in Parliament this afternoon (Wednesday, July 8).

Features of the Budget included a job retention bonus scheme; a £2bn emergency package to prevent youth unemployment; and a 50% off voucher scheme for participating outlets in the hospitality sector.

However, there were no measures to directly benefit independent retailers.

Andrew Goodacre, Bira’s CEO, said: “We welcome the various initiatives to bring younger people into work and the support for the hospitality sector.

“However, it is disappointing that there is no VAT cut for retailers in general and no changes to national insurance.

“There needs to be thought given to how consumer demand is stimulated on the high street or many businesses will close and jobs lost.”

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