Budget Offers Little Business Boost for Small Shops

Commenting on the Chancellor’s Budget Statement, John Drummond, Chief Executive of SGF said;

“There is little in this budget to boost business within the convenience store sector.

“The 2% increase in alcohol duty is unwelcome news for retailers and consumers neither of whom needs another tax increase during an economic slowdown.

“The increase in fuel duty by 2p per litre from September will increase costs for all retailers and for rural and remote retailers in particular.

“Doubling of the capital allowance for investment in 2009/10 is unlikely to have any benefit for the vast majority of independent convenience stores as the threshold for qualification is beyond their reach.

“With a lack of measures to reduce taxation on businesses in this budget a reassurance from the UK Government that the national minimum wage will remain at its current level until the economy improves would be welcome.”