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VAT cut fails to lift footfall

The Chancellor's VAT cut has failed to warm up footfall on the high street for the week so far, with shopper numbers down 3.1% between Monday and Wednesday.

According to figures from Experian Business Strategies, footfall on Monday was down 2.6% on the same day last year. Tuesday recorded a fall of 4.7% while Wednesday saw shopper numbers down 1.9%.

Experian said: "With only three weeks to Christmas, so far the mid-week trend over the past weeks has been showing a year-on-year decline of between 3% and 4%. This week is no exception, even after the Government's attempt to promote spending by reducing VAT this week we are still seeing a negative year-on-year comparison of 3.1% for the week so far."

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