Retail Ireland urges Government to cut income tax

The lobby group Retail Ireland has called on the Government to cut income taxes, promote better regulation for the sector and do nothing to add to business costs.

Retail Ireland, which is part of the employers’ group, Ibec, said that even though the sector still faces many challenges, it has the potential to create 40,000 jobs over the next few years. Moreover, it is forecasting a 2% increase in consumer spending in 2014.

Despite disappointing retail figures in the first quarter, there are signs that many consumers are returning to the shops after a long hiatus, it said. But because of intense competition, many retailers are just about surviving, it added.