// Superdry CEO Julian Dunkerton urges gov’t to reduce VAT by 5% over December to boost trade for retailers
// He also called for further business rates relief, but not for grocers that have remained open during lockdown
// Dunkerton also warns the current lockdown in England would be disastrous for smaller and independent retailers if it was extended
Superdry chief executive Julian Dunkerton has reportedly called on the government to implement tax cuts for retailers to help boost trade leading up to Christmas.
According to The Telegraph, Dunkerton said a five per cent cut in VAT in December as non-essential come out of England’s second lockdown would help make up for some of the losses during the crucial Christmas trading season.
He also called for further business rates relief, but not for grocers or food retailers that have been allowed to remain open during lockdown and have saved a combined £1.9 billion from the tax break.
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“The Treasury needs to come up with a goodwill gesture to the public and retailer in the run-up to Christmas,” Dunkerton told The Telegraph.
“They did a good job with the Eat Out to Help Out scheme, so there needs to be some kind of action to assist retailers.”
While Superdry enjoyed a surge in online sales during the first UK-wide lockdown over spring, Dunkerton warned the current lockdown in England would be disastrous for smaller and independent retailers if it was extended and they “lost December”.