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

'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.

“Whilst these measures will go some way to help retailers recover, we fear it may not be enough to prevent further store closures and job losses in the sector,” Mr Graham said. 

Meanwhile, IE Domain Registry has welcomed the news that the Government is to expand the Online Trading Voucher Scheme to €20m, expand the funding call of the Online Retail Scheme of €5.5m, and  invest €10m  in the Town and Village Scheme. 

A spokesperson for IE Domain Registry said: “The provision of almost €26m for SMEs and retailers to develop an e-commerce presence will unlock a whole new area of growth and opportunity for these SMEs who may not have previously sold online, and who may have been closed for up to four months due to Covid-19.”

More in this section

Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Let Me Tell You

Let Me Tell You is a new bespoke podcast series from 

Logo IE

Hosts Daniel McConnell and Paul Hosford take a look back at some of the most dramatic moments in recent Irish political history from the unique perspective of one of the key players involved.

Bespoke political podcast series from

Logo IE
War_map
Execution Time: 0.216 s