The UK retail industry described Chancellor Gordon Brown's budget speech as 'a missed opportunity' to reduce government-imposed costs of doing business in the UK or deliver value for the taxes that the retail community pays.

'No one will be surprised that the chancellor has delivered such a bland budget,' said David Felwick, chairman of the British Retail Consortium.

He said Brown has done nothing to help maintain consumer demand or to significantly reduce the raft of government-related business costs.

'Whilst there is virtue in stability, there is no virtue in wasting an opportunity to improve the poor value for taxes retailers receive for contribution to the exchequer or to roll back the cost burden on business,' he added.

Consumer demand will increase because people are unlocking the equity in their
houses.This happened in Ireland.
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