The Chancellor announced that the recent rise in National Insurance tax would be reversed from 6 November and the planned rise in corporation tax from 19% to 25% has been cancelled.

VAT-free shopping for overseas visitors will be brought in and planned increases on alcohol have been cancelled.

New low tax investment zones will be set up in England where tax cuts and liberalised planning rules to be offered to release land for housing and commercial use.

Reacting to the Chancellors statement, Retail NI Chief Executive Glyn Roberts said: “We welcome that the Government is to reverse the National Insurance increase which will provide some relief to local independent retailers who are struggling with the cost of business crisis.

“Retail NI will engage with the Secretary of State for NI on how the Investment Zone proposals could apply to Northern Ireland, particularly in town and city centres that have high levels of dereliction and are in need of further support.

”We are disappointed that no funding assistance from Treasury has been allocated to allow a business rates holiday to be introduced locally. If we are to stand any chance of saving local high street businesses and protecting jobs, it is vital that a rates holiday is urgently introduced.

“Lowering VAT rates should also have been included in this statement, rather than focusing on stamp duty and corporation tax.

“The UK Government needs to go a lot further in supporting our local high streets and we will continue to press for further measures.”

Ann McGregor, Chief Executive, Northern Ireland Chamber of Commerce and Industry said businesses would welcome the Chancellor’s pledge to focus on economic growth.

“Inevitably, the devil will be in the detail of these proposals, but they must strike the right balance between tackling immediate pressures, driving reform and providing for a sustainable future,” she said.

“Moves to target certain business costs, including reversing plans to increase corporation tax and national insurance are welcome interventions at a time of critical need. Reversing the planned increase in corporation tax will be crucial for local firms competing on the island of Ireland in particular.

“But today’s announcement just underlines the need for a restored Executive to respond in parallel to protect businesses and unlock sustainable growth locally.

“We need an Executive that can take urgent action on priority issues like reforming business rates, tackling the productivity gap and transforming the planning system to enable green growth. That, combined with resolution on the NI Protocol will help restore much needed business confidence.”

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Leaders of the Fed (Federation of Independent Retailers) say MUP in the Province would create a “level playing field” and allay fears of cross-border trading.

The move follows the recent publication of a paper by the Department of Finance Tax Strategy Group on tax excise. The report warned the Irish government that the introduction of MUP in the Republic in January 2022 could ultimately lead to less tax being paid due to people shopping across the border.

Stormont opened consultation on the introduction of MUP earlier this year, and the Fed responded by confirming it was strongly in favour of the move.

The Fed’s Republic of Ireland president Martin Mulligan said: “It’s certainly a good thing and would make things equal for retailers on either side of the border. It would be particularly good for those retailers whose stores are on or close to the border.”

Joe Archibald, the Fed’s president for Northern Ireland, added: “One of the main benefits of MUP for smaller retailers with off-licences is the fact that the big multiples and supermarkets will have to charge the same prices, so they will no longer be able to undercut independents by selling cheaper alcohol as loss leaders. This should level things up and give everyone a fair crack of the whip.”

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The research company said the cost of living crisis is now weighing heavily on people’s minds, with grocery price inflation climbing from 2.8% last month to 3.6% now.

And people were leaving behind pandemic habits of doing big shops by shopping little and often — which means grocery sales were down 5.8% year on year, according to David Berry, managing director for Kantar Worldpanel Ireland.

Tesco remains our most popular grocer with a market share of 36%. In second place is Sainsbury’s with a market share of 16.9%, while Asda is in third on 16.2%.

Only discount supermarket Lidl was able to increase its market share, which was up from 6.6% to 7%.

Mr Berry said Lidl had benefited from an influx of new shoppers, who had added £8m to sales, with 74% of local households now buying there at least once a month.

“Northern Irish shoppers made two extra trips to store in the latest 12-week period compared with last year,” he added.

“They’re putting less in their baskets and volumes have declined on average by 10.2% — that’s about one fewer pack.

“What people are buying has changed too. Alcohol purchases have dipped now that people can visit restaurants, pubs and bars again, and home baking sales are down as consumers shake off the last remnants of Covid habits.

“Consumers are returning to tactics they adopted in the last recession to manage the impact on household budgets.

“As well as doing smaller shops more often, some people are making the most of grocers’ promotions and trading down to private label alternatives, which are typically cheaper than brands.”

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The post Retail sales jump in April driven by cigarettes and alcohol first appeared on Neighbourhood Retailer.

The 8.5% ABV vodka spirit-based brand was created over a decade ago by two college graduates and launched in Northern Ireland in 2021. Since then, Four Loko has taken the RTD market by storm, becoming a go-to drinks brand for many Millennial and Gen Z consumers who are looking to create epic stories and memorable nights.

This May, Four Loko will introduce Strawberry Lemonade and Tropical to its core range of four established flavours which include Four Loko Blue, Fruit Punch, Sour Apple and Gold; the most popular in Northern Ireland.

With their eye-catching, vibrant versions of the original camouflage packaging, fused in fluorescent cherry red, aqua blue and yellow, these new kids on the block will be sure to stand out from the crowd on-shelf.

Not only will Four Loko’s vibrant packaging catch the eyes of consumers here, but the new fruit-filled, edgy flavours will bring a new twist to the table and really pack a punch! Strawberry Lemonade is full of the sweetness of fresh strawberries and the fizz of sparkling lemonade and Tropical is bursting with summer flavours including pineapple.

Four Loko offers its target 18–24-year-old audience the perfect at-home, unconventional, full-flavoured, ready to drink solution, in a convenient 440ml can format with an ABV of 8.5%.

Brand Manager from Richmond Marketing, Gina Holland said: “Flavoured alcoholic beverages have been a key sub-category for some time and category growth in Northern Ireland is being fuelled by innovation within the traditional Ready To Drink space.

“We’re delighted to be offering new Four Loko flavours which are going to be genuinely exciting for Northern Ireland consumers, just in time for summer.

“The marketing drive behind Four Loko to create ‘Epic Stories’, is what gravitates Gen Z and Millennial’s to pick up a can before any event.”

Four Loko is exclusively disturbed in Northern Ireland by independent sales and marketing company Richmond Marketing. Strawberry Lemonade and Tropical flavours will be available to purchase from Wineflair, Supervalu & Centra from May 2022.

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