United Kingdom

Details

  • Service: Tax, Budget 2014
  • Industry: Retail and Consumer Goods
  • Type: Press release
  • Date: 19/03/2014

Budget 2014: Retailers will hope the pounds spent in tills will be worth more than the ‘three penny bit’ 

David McCorquodale, KPMG’s UK head of retail, comments on what the Budget announcement means for retailers. He said: “The Budget for growth, job creation and house building is welcome news for retailers who rely on consumers having employment security to have confidence to spend.  The cost savings around income tax and this morning’s announcement on the reduction in unemployment adds to the good mood feeling.


“Many of the measures are aimed at putting extra pounds in the pocket of the consumer. But with measures aimed to encourage consumer savings and the hint at global activities potentially impacting global commodity prices, retailers will hope the proportion of those pounds spent in the tills will be worth more than the ‘three penny bit’ the new pound  will soon look like.


“Retailers will be keen to look at the detail of the measures to encourage exports as they look to grow on new frontiers. However, they are still looking for reform of the business rates regime at home and the elimination of the red tape that discourages foreign tourists from making the trip over to the UK.”


Ends

 

Follow us on twitter: @kpmguk #budget2014


www.kpmg.com/uk/budget2014


For further information please contact:


KPMG Press office
Nahidur Rahman, KPMG Press Office
020 7694 8812 (t), 0788191 6975 (m) or nahidur.rahman@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG:

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

Share this

Share this

Contact us

MEDIA HOTLINE 020 7694 8773

Follow us on twitter Follow us on Twitter

 

Nahidur Rahman

Nahidur Rahman

Senior Communications Executive - Automotive, Technology, Media and Telecoms

KPMG in the UK

020 7694 8812 / 07881 916975

Email Nahidur