Currys boss not worried about VAT hike
DSG International chief John Browett unconcerned about the VAT rise's impact on the Currys and PC World group
The VAT rise will not adversely impact the electrical retail sector, said
DSG
International chief executive John Browett.
Browett, boss of the Currys and PC World businesses, said that price
deflation on technology products would offset the impact of the January 2011 VAT
rise.
Talking to BBC
Radio, Browett praised the government for its decisive action in
fixing the economy.
“From our perspective, it’s great to see that in the long-run the government
is going to take firm action. That’s got to be good for all of us in the end,”
said Browett.
Announcing pre-tax profits of £112.7m for 2009/2010, DSG also announced it
was bringing back the Dixons name. The group will be called Dixons Retail PLC,
as sentiment and knowledge of the Dixons brand is still high among its foreign
suppliers.
Further reading:
Preston
North End tackled by taxman
Action
group calls for clarity on VAT rules for the disabled
Success
of bank levy scheme hangs on G20