B&Q calls for VAT rise notice
Published: 04 June, 2010
It is widely expected that the Chancellor of the Exchequer will use his Budget on June 22 to increase the VAT rate.
A spokesman for Kingfisher said yesterday: "If it does have to go up it would be useful for retailers to have a decent amount of notice, of say three to six months."
B&Q, the UK arm of the pan-European company, stocks 35 000 products. "Changing the price on these is quite an undertaking," the spokesperson said.
Ian Cheshire, group chief executive of Kingfisher, speaking on Radio 4's Today programme yesterday, reiterated his call for the range of goods subject to VAT to be expanded to include items like some foods that are currently exempt.