BUDGET CONCERNS FOR RETAIL INDUSTRY

BUDGET CONCERNS FOR RETAIL INDUSTRY

TAX increases in the Federal Budget could adversely impact consumer spending in the retail industry, according to the Australian Retailers Association (ARA).

Executive director Russell Zimmerman (pictured) says the ARA supports the government’s plan to control expenditure, but is concerned some aspects may impair consumer confidence – which has slowly been on the rise.

“It would be a travesty if these tax increases impacted on that recovery to the sector and the services economy,” he says.

Zimmerman says it’s not all bad news for retailers, lauding the abolition of the carbon tax.

He says the decision to remove $1 billion in red tape each year is another positive note, allowing businesses to “get on with the job”.

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