In the lead up to the Emergency Budget on Tuesday, the ACS (Association of Convenience Stores) has put forward its recommendations to Government. They include:
A radical re-think of existing enforcement priorities, agency responsibilities and sentencing aiming to recoup 50% of the revenue lost to alcohol and tobacco duty fraud – equivalent to in excess of £2bn per year in revenue
No increase in the headline rate of VAT and no change to the criteria on non VAT-payable products like food and news and magazines
If Ministers decide to implement a VAT rise then:
- changes must be incremental to prevent dramatic price increases in the short term
- sufficient lead in must be allowed for retailers to make the necessary changes to prices/systems
Centrally set lending targets for banks, in place for as long as the credit shortage remains
Government intervention to reduce the increased cost of credit and stringent terms on which banks will loan to small businesses
Immediate action to make small business rate relief automatic
No further increases in employment costs including the national minimum wage, until the economy has developed a stable level of growth
