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Press Release

Spending cuts - right way to deal with deficit, says BRC

24 May 2010

The Government’s announcement today (Monday) of its plans to reduce public spending is a welcome indication that it will use cuts as the main means for reducing the deficit.

The British Retail Consortium (BRC) has consistently argued that tax increases would harm the recovery by undermining jobs, customer demand and GDP.

British Retail Consortium Director General Stephen Robertson said: “These cuts, substantial and soon, are a welcome indication that the Government recognises spending cuts must be the main means for sorting out the public finances.

“The deficit needs to be tackled but moves to do that must prioritise spending cuts over tax rises.

“It’ll be growth that gets the country out of the hole it’s in. Private sector businesses are the engine that will drive growth. Tax increases would have a deep and damaging impact on jobs, customer demand and GDP.

“The earlier announcement to scale back the planned National Insurance increase is a good start – though that could go further. What customers, retailers and the recovery now need is a firm rejection of any increase in the rate or scope of VAT. Let’s hope the Budget is clear on that.”



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British Retail Consortium

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