Retailers who will pay the VAT increase?

battries not included

Hi, I am not sure if it belongs here, I know LIDL, ALDI M&S, TESCO will be paying the 2% VAT increase for it's customers but not sure what other retailers are doing the same?


Link;


http://www.finegael.ie/latest-news/2011/12/15/keating-welcomes-supermarket-pledge-to-absorb-2-vat-increase/

phasers

Supemarkets have been raising the prices on their products slowly for the past few weeks.

uli84

haha, exactly, we will pay it this way or another, dont worry

Atlantic Dawn

battries not included wrote: »

Link;


http://www.finegael.ie/latest-news/2011/12/15/keating-welcomes-supermarket-pledge-to-absorb-2-vat-increase/

Unbelievable, the muppets who brought in the increase are advertising a list of shops who will absorb it :rolleyes:

kendragon

I'm guessing this will be the final nail in the coffin for any smaller stores and shops that have been struggling.

Stupid, stupid government.

kn

kendragon wrote: »

I'm guessing this will be the final nail in the coffin for any smaller stores and shops that have been struggling.

Yeah. What will happen is that a bigger slice of the market will be taken by a declining range of retailers. That is how the 2% of added 'efficiencies' will be secured to pay for the extra VAT - survival of fittest (i.e. biggest)!

snappieT

Argos are absorbing it until next catalogue (end of the month), rather than having a "VAT surcharge" added to the catalogue price.

niallam

snappieT wrote: »

Argos are absorbing it until next catalogue (end of the month), rather than having a "VAT surcharge" added to the catalogue price.

With Retained Profits of 18,517,000 in Ireland last year i think they can afford to... Cant get the accounts for Tesco Ireland because i think they are under Tesco UK but they do a little better, last year Retained Profits 1,590,000,000

ted1

Tesco will add it later in the year when the story has died

ontour2

Benecol was 4.99 a week ago in tesco, yesterday it was 5.09. I noticed changes on other high price items. Must be a different 2% increase.b

SeaFields

I was in a centra this morning and the staff were mad busy changing all the price labels around the store.

battries not included

SeaFields wrote: »

I was in a centra this morning and the staff were mad busy changing all the price labels around the store.

Will that be the same in all centra stores i wonder...?

SeaFields

battries not included wrote: »

Will that be the same in all centra stores i wonder...?

I assume so. I believe the stores are independently owned but run like a large supermarket chain. I'm open to correction tho

rabjoshu

Where is the bargain?

Retailer

I finalised my figures last week for 2012 and have decided to absorb the VAT rate because customers won't tolerate an increase.
To do this however I will be increasing my supply of stock from the UK and China from it's current 40% to approx 70%

I will also be reducing my part time staffs hours by 30%.

I have no choice but to do the above and I have informed te minister and his office of this. As an independent retailer they won't give a monkeys about me but when they find out through figures later in the year that many many other SMEs will be doing the same, they may eventually take notice.

A leaving cert economics student can see that this increase will be detrimental to our economy but it seems that our government are intent on a 'suck it and see' approach after which they will no doubt spin their way out if it while we fall deeper into recession.

Well done Mickey Noonan! A clever man

EDIT: just copped on that this thread is in bargain alerts. Apologies