The VAT rise in January should provide a boom to retail this Christmas, peripherals maker Cherry has said.
In an interview with PCR, Cherry’s general manager Michael Groom said he was confident consumers would up their spend during the festive season.
“Aspirational tech products are usually high on most people’s Christmas wish lists,” he said. “The proposed VAT increase for 2011 should add to a strong Christmas trading period as customers look to purchase before the year-end.”
Groom’s comments follow concerns from trade bodies that the VAT rise would cause a decrease in public spending and reduce retailers’ margins. Following Chancellor George Osborne’s emergency budget back in June, National Buying Group MD Phylip Morgan told us: “This could push some retailers over the edge.”
To read our interview with Michael Groom in full, click here.
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