Retail figures show growth in confidence – Collins

Fine Gael TD for Cork North West, Áine Collins, has said that retail sales figures for 2014 show that confidence has returned to our economy.

“CSO figures show that 2014 retail sales were up 5.1% on the previous year. This is a good sign that confidence has returned to our economy.

“The retail sector was decimated during the economic crash in this country and many jobs were lost. There is a long way to go to return this sector to its previous strengths, and Retail Excellence Ireland point out that the increase in sales activity in the pre-Christmas period came about due to heavy discounting on the part of retailers. However the figures do show that things are going in the right direction.

“Budget 2015 gave people a little bit more in their pay packets by reducing PAYE and USC rates. We have also now taken over 410,000 low paid people out of the USC altogether. The Government has a plan to continue to reduce tax next year and this will help the retail sector continue to grow as people have a little extra to spend.

“The Retail and Wholesale Sector currently employs 270,000 people and we cannot underestimate the indirect jobs created by retail also. The Action Plan for Jobs 2015, launched today by Minister for Jobs Richard Bruton, has a specific focus on employment in the retail sector. The Oireachtas Committee report on Town Centre retailing is to be reviewed and an action plan is to be developed. Other measures include tackling illicit trade, rolling out the National Post Code system to encourage online trading and eliminate fraud and completing the rollout of 2,000 Trading Online Vouchers through Local Enterprise Offices. Retail will also feature in the upcoming Regional Enterprise Strategy which will focus on employment in the towns and villages throughout Ireland.”