'Act to prevent spending paralysis' – BRC

09 August, 2011

The British Retail Consortium says action is needed to prevent “spending paralysis” after a modest rise in retail sales in July.

Like-for-like value sales were 0.6% up on July 2010, figures from the BRC/KPMG Retail Sales Monitor show.

On a total basis, sales were up 2.5% over the year.

“When you take into consideration inflation and January’s increase in VAT, 2.5% growth effectively means people are buying fewer goods,” said BRC director general Stephen Robertson.

“Policymakers in Europe and the US must act quickly to implement a co-ordinated and credible strategy to reduce public sector deficits while supporting growth.

“Business and consumer confidence needs to be restored quickly before spending paralysis sets in.”




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In the not-too-distant future, when all humans are born with inbuilt VR headsets and Trump is Supreme Commander of the Known Universe, how will students of wine look back on the present era of retail in the UK? And, in such a dystopian world, why would anyone care?

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