THE GOVERNMENT’S PLAN to increase the higher rate of VAT from 21 per cent to 23 per cent is being met with warnings that it will hit struggling businesses the hardest.
Retail Excellence Ireland said that the VAT increase will be met by reduced demand and the potential return of cross border-shopping, while IBEC has also said that it will “increase the attractiveness of cross-border shopping”.
The new VAT rate will hit in six weeks time, and according to RTÉ News, Dundalk Chamber of Commerce has said that it will devastate the town, with people going to Northern Ireland in order to do their shopping.
What about you? If you live in the Republic will you think about cross-border shopping in order to make a saving? Tell us why in the comments section below…