§ Mr. LuffTo ask the Chancellor of the Exchequer what representations he has received about the impact of the date of the unified budget on retail sales; and if he will make a statement.
§ Mr. DorrellI have received a number of letters on this subject. The Government recognise the importance of pre-Christmas consumer expenditure to businesses, especially retailers, and will continue to take this factor into account in deciding the most appropriate dates for future Budgets.
Fears that retail sales would suffer this year in the run-up to the Budget in November have, however, proved groundless. Retail sales have been on a strong upward trend for over a year, and stand at record levels. In the three months to November—the three months before the Budget —they were 3.6 per cent. up on the equivalent period in 1992.