Red Rag - To coin a famous phrase but adding in a bit of Osbornomics "Everything must NOT go!".
Today we had a shocker of a result for monthly sales in August. Year on year the the amount spent on sales for August fell 0.6%, what makes it even shocking is the fact that the coalition put up VAT to 20% so in real terms the fall is even bigger.
The British Retail Consortium blames the plummet in consumer confidence, high inflation and the government led squeeze on personal finances. They also expect numerous stores to close in the next few months as the coalition governments austerity package starts to really bite.
More bad news for the Osborne apologists tomorrow....the manufacturing and industrial production results come out.....get those excuses at the ready.
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