Tax rises 'playing on minds of consumers'

Tax rises are among the factors that are causing many consumers to adopt a cautious financial approach, it has been suggested.

According to Stephen Robertson, the director general of the British Retail Consortium (BRC), job uncertainty is also something that is likely to be playing on the minds of people.

He commented: "Consumers are certainly more positive than a year ago but job worries, tax increases and uncertainty over what is still to come after the general election are causing customers to remain cautious."

The remarks made by Mr Robertson follow BRC statistics which reveal that retail sales values increased between February of 2009 and the same month of this year.

Meanwhile, Pierre Williams, head of research at MoneyExpert.com, has also recently noted the slightly more cautious approach that some people are adopting in the UK.

It is now harder for people to get credit, he suggested.

Posted by Tom Burroughs.