'July stimulus may not  prevent store closures', says retail body

Retail Excellence  MD Duncan Graham: Pleased with Vat cut and continuation of wage scheme, but these may not be enough.Picture: Dominic Lipinski/PA Wire

While Retail Excellence welcomed the announcement of the July stimulus package, it believes more needs to be done to prevent further store closures and job losses.

Duncan Graham, managing director of the organisation, which has 2,200 retail company members, who have  13,000 stores here, said: “We are pleased to see the reduction in the 23% Vat rate to 21%, a further write-off of commercial rates to the end of September, the extension of the Wage Subsidy Scheme to 2021, and a further €8m being allocated for retailers to develop their online presence.