Chief Minister: ‘Some shops will absorb tax’

Thursday 19th April 2007, 12:00AM BST.

SOME retailers will take a hit in the pocket and absorb part of the cost of GST, the Chief Minister has promised.

Senator Frank Walker said that he has received ‘confidential information’ from a number of retailers, who have told him that they will not add three per cent on to the price of all products when the Goods and Services Tax is implemented in April 2008. He refused to name the businesses he had spoken to, saying that they worked in a competitive market. However, Kevin Keen, the president of the Chamber of Commerce, has said that he believed that the ‘vast majority’ of traders would add the full amount of GST to all goods.

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