Summer Budget: Will more pounds in consumers pocket successfully balance increased wages

Summer Budget: Will more pounds in consumers pocket...

David McCorquodale, head of retail, KPMG in the UK outlines how corporation tax changes could affect the retail sector.


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Commenting on today’s Chancellor’s Summer Budget, David McCorquodale, KPMG head of retail said:

“Investors in the retail sector will be keeping a watchful eye on whether the benefits of decreasing corporation taxes together with increased consumer spending from higher wages and increased personal allowances, will balance the alleviated payroll costs from the new National Living Wage.”


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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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