Rea­sons to be cheer­ful

The Peterborough Evening Telegraph - - Etbusiness Daily -

THERE are grounds for op­ti­mism on the city High Street de­spite the im­pend­ing hike in the rate of VAT.

Re­spond­ing to the emer­gency Bud­get, Paul Glos­sop, Bar­clays Cor­po­rate re­tail and whole­sale spe­cial­ist, West Anglia said: “De­spite the re­ac­tion from the House, the an­nounced rise in VAT is no sur­prise to re­tail­ers who have been plan­ning for an in­crease and look­ing at cost bases and price points since Jan­uary.

“The tim­ing of an in­crease is what re­tail­ers were fo­cus­ing on. Bring­ing in the change on Jan­uary 4 will mean the cru­cial Christ­mas trad­ing pe­riod is pro­tected; it will also, hope­fully, help stim­u­late sales be­tween now and then as shop­pers bring planned big-ticket pur­chases for­ward be­fore the change.

“In the shorter term, a strength­en­ing pound, the ap­par­ent on­set of sum­mer and, in Peter­bor­ough, the im­prove­ments to the city cen­tre start­ing to take shape, mean that there is a rea­son­able de­gree of op­ti­mism on the High Street”.

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