In brief

In Industry News On

The industry has welcomed the BRC proposal to remove VAT for energy efficient appliances and to introduce a car-industry-style scrappage scheme. Enrico Vita, managing director of Indesit Company UK, said: “This proposal will provide the white goods sector with further encouragement to accelerate development of more efficient products. (…)  By removing VAT it would give retailers a significant sales boost during these very difficult trading conditions.”

The latest Institute of Chartered Accountants in England and Wales Business Confidence Monitor (BCM) shows a record rise in confidence from -28.2 to +4.8, the highest since Q3, 2007. Based on this, the ICAEW predicts that GDP will rise 0.5% this quarter.

The Forum of Private Business (FPB) has reported that banks are imposing a raft of charges, increasing interest rates and demanding personal guarantees as preconditions for lending to small businesses, including under the Government’s Enterprise Finance Guarantee (EFG) scheme. According to the FPB’s latest research the cost of finance is a major issue for 63% of respondents. Almost one in five (19%) said it has become a ‘very serious’ concern. “Recent data shows that, despite the rate of new EFG applications slowing, the overall availability of lending is beginning to improve slowly,” said FPB spokesman Phil McCabe.

You may also read!

Putting safety at the heart of product development

Electrical Safety First has opened applications for its Safety Innovation Award, with the closing date for entries being August


Sony unveils three new wireless speakers

Sony’s new range of X-Series speakers all feature the company’s innovative X-Balanced Speaker Units, a non-circular diaphragm that gives


Gaggenau launches flex induction cooktop with integrated ventilation

Gaggenau has launched a new flex induction cooktop with integrated ventilation system (400 series). The company said the 90cm appliance


Mobile Sliding Menu

©2021 Innovative Electrical Retailing. Datateam Business Media Limited. All rights reserved.
Registered in England No: 1771113. VAT No: 834 8567 90.
Registered Office: 15a London Road, Maidstone, Kent ME16 8LY