Retail businesses propose tax cut to boost consumer spending

Author
Newstalk ZB,
Publish Date
Fri, 7 Aug 2020, 1:47PM
Photo / File

Retail businesses propose tax cut to boost consumer spending

Author
Newstalk ZB,
Publish Date
Fri, 7 Aug 2020, 1:47PM

Some retail business owners want a tax cut to boost consumer spending.

Retail NZ's Retail Radar survey shows three-quarters of retailers are confident  they'll make it through the next 12 months.

But 28 per cent want support through income tax cuts, and 19 per cent would like to see GST reduced.

Chief executive Greg Harford told Kate Hawkesby retail spending has been good - but it's important to see continued economic stimulus.

He says either tax cut option would help keep consumer spending up through to Christmas.

Harford says the problem is overall, spending has been down about 10 per cent since March.

"There's a lot of ground for retailers to make up because of the low margins they operate on."

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