Vat relief but retail still in peril

Industry representative groups have welcomed the retention of the 9% Vat rate, but have largely slammed Budget 2014 as not going far enough in helping the struggling retail sector.

Retail Excellence Ireland — the largest umbrella body for Irish retailers — went so far as to brand the bulk of yesterday’s relevant measures as being “anti-retail”.

“It is clear that the reduction of the Vat rate from 13.5% to 9% in last year’s budget has had a very positive impact on job retention and creation.