Budgetary considerations - Independent Electrical Retailer - the leading trade magazine for the electrical industry

Budgetary considerations

Published: 05 April, 2011

There is a general perception that many measures proposed in the freshly announced Budget are small business-friendly – recognition that the welfare of small businesses is essential for bringing the economy back from the recession. Helping businesses grow and create jobs is a hallmark of this year’s Budget. And yet many believe that these measures do not go far enough and question their ability to improve things significantly before more retail companies go down, as Bennetts has just done, sending shock waves across the industry.

These doubts have been summed up by director general of the British Retail Consortium, Stephen Robertson: “The Chancellor is right to stand firm on austerity measures to bring the deficit under control and to refocus on the need to boost economic growth, given falling forecasts for GDP. Consistency of direction is crucial for jobs and investment – this is no time for zig-zag Government. This Budget offers some support for enterprise. Certainly, the small business measures set the right tone but they should be applied more widely.

“We look forward to the promised reductions in regulatory burdens. They must be applied to legislation that has real impacts on business, not just to long-disused rules, so that significant cost reductions result.”

Has any of this inspired the independent electrical sector to believe that better times are just round the corner? I am sure you have your own opinions on the proposed measures and I wish to encourage you to share them with us. We will start a discussion on the forum of IER on what is likely to help (and prevent) the recovery in the electrical independent sector. ‘A view from the shop floor’ could inspire and warn other players – at all levels – in this industry.

Anna Ryland, Editor

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