It may happen. It may not. October 31, 2016Posted by WorldbyStorm in Uncategorized.
I’m not sure what to make of the headline on the SBP this weekend which trumpeted:
Tax take to plummet as 1 in 3 shoppers break for the border.
If that sounds worrying, well so it should. The article continued:
The state is facing a haemorrhage of tax revenues with new figures revealing that one third of all shoppers the Republic plan to cross the borer to the North for their Christmas shopping to take advantage of the slump in sterling. The situation is amplified in border counties with … 56 per cent of people living in those counties will travel north.
The scale of the shopping exodus revealed in a Red C poll for the SBP is a massive blow to the exchequer which will lose hundreds of million of euro in VAT and excise.
Isn’t this a little premature? What do people think?