Welcome boost for retail in stimulus package

Retail Ireland, the Ibec group that represents the Irish retail sector, today said the new July Stimulus Package included a range of important measures that would support the retail recovery. While major challenges remain in the sector, and additional support will be needed over the coming months, the package will help safeguard the future of many vulnerable businesses.

Retail Ireland Director Arnold Dillon said: “The range of financial and employment supports will help keep many retail businesses afloat during these difficult times. The VAT reduction will help support retail activity, while the extension of the wage subsidy scheme is crucial to avoiding massive jobs losses. The six month commercial rates waiver and amendments to the Restart Grant and Covid-19 Credit Guarantee scheme will help address the major liquidity challenges that the lockdown created.

“What retail needs most is the safe return of customers to the streets and shopping centres of the country. The task now is to restore as much commercial and economic activity to our towns and cities as possible, in the safest way possible.”