VAT increase 'will drive consumers across border'

Retail Ireland, the IBEC group that represents the Irish retail sector, today condemned the decision by the Minister for Finance to increase the VAT rate by 0.5% to 21.5% in the Budget.

Torlach Denihan, Director of Retail Ireland said: "The decision by the Minister for Finance to increase the VAT rate by 0.5% to 21.5% in the Budget is likely to prove counterproductive.