Calls to move budget to February

Budget blues in December pushes annual consumer spending down by as much as 7%, according to the National Retail Industry Alliance, who argue the Government’s VAT tax take would rise significantly by moving the budget to February.

The National Retail Industry Alliance, representing over 17,656 retail stores employing more than 200,511 people, believes changing the timing of the budget announcements to traditionally weaker consumer spending months such as February or November could boost sales by as much as 3% annually, with a knock-on Vat windfall for the Exchequer.

The call from the alliance follows a survey of 208 retail company members throughout Ireland, who operate 824 stores and employ 11,200 workers.