Nick has raised concern in the Commons over the proposed timing of the reversion of value added tax to the 17.5 per cent rate on 31 December 2009.
This will disrupt crucial Christmas trading, strain staff during that period and impose a cost in excess of £90 million when working capital is under strain; further this imposes a de facto alcohol duty increase; plus trade credit support will be withdrawn the same day; therefore Nick supports The Grocer's campaign for a four-week reprieve on the value added tax increase to protect business during a critical trading period.