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Michael Wheedon

Deputy managing director, BHF-BSSA

“Business rates are going to be at the forefront of retailers’ minds next year with a re-evaluation due and the issue of transitional relief, which affects retailers differently. I think people will be holding their breath to see what happens after the general election. The policy of the incoming government may radically affect VAT and taxation and at the moment I don’t think anyone’s clear who will win the election. VAT could rise to 20% in June or July if we had an emergency budget.

People are still spending big on pay day rather than throughout the month and there’s been a big shift from credit to debit spend and I think that will continue well into2010.”

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