Retail Ireland: Budget will reduce spending power

Retail Ireland has welcomed the fact that the Government has not increased the excise on alcohol in today's Budget.

Retail Ireland Director Torlach Denihan said: "It is very positive that excise on alcohol has not increase as this could have reignited cross-border shopping.

"The budget will reduce householders' spending power and probably retail sales.

"The extent of the reduction in retail sales depends on how consumers react to both the budget, to their own employment prospects and to the fact that Ireland now depends on external financial assistance."