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15/10/2008
Border Budget Bonanza
The North is set to reap benefits with an expected Budget bonanza for border businesses.
NI traders are getting ready for a run on cigarettes (up 50 cents a packet) and wine (also up 50 cents) as well as many other goods as the strong Euro combines with price differences to increase an already healthy trade from Irish shoppers this Christmas.
Although Finance Minister Lenihan was widely expected to hit tobacco products hardest, his Budget speech only put up the cost of a smoke marginally, but enough to make a difference to shoppers.
Even more southerners may now be tempted to make a cross-border shopping trip.
Alcohol, sweets and furniture are already particularly popular with the day-trippers. Many just come to do their weekly grocery shop, from nearby Dundalk or Drogheda and at The Quays Shopping Centre in Newry, Sainsbury's say 30% of its trading is in Euros.
Cathal Austin, Centre Manager said: "We have noticed that despite the credit crunch, footfall is up on average each month compared to last year.
"We have worked extremely hard to attract quality retailers and well-known high street brands to the centre."
More positively for southerners too - and leaving them with more Euros to spend across the border - there will be no excise increase at all on beer, cider, spirits or on diesel.
As well as that North trade fillip, an increase of eight cents on a litre of petrol in the Irish Republic will bring near parity on fuel prices and end a run in the other direction, from NI motorists to Irish border filling stations.
(BMcC)
NI traders are getting ready for a run on cigarettes (up 50 cents a packet) and wine (also up 50 cents) as well as many other goods as the strong Euro combines with price differences to increase an already healthy trade from Irish shoppers this Christmas.
Although Finance Minister Lenihan was widely expected to hit tobacco products hardest, his Budget speech only put up the cost of a smoke marginally, but enough to make a difference to shoppers.
Even more southerners may now be tempted to make a cross-border shopping trip.
Alcohol, sweets and furniture are already particularly popular with the day-trippers. Many just come to do their weekly grocery shop, from nearby Dundalk or Drogheda and at The Quays Shopping Centre in Newry, Sainsbury's say 30% of its trading is in Euros.
Cathal Austin, Centre Manager said: "We have noticed that despite the credit crunch, footfall is up on average each month compared to last year.
"We have worked extremely hard to attract quality retailers and well-known high street brands to the centre."
More positively for southerners too - and leaving them with more Euros to spend across the border - there will be no excise increase at all on beer, cider, spirits or on diesel.
As well as that North trade fillip, an increase of eight cents on a litre of petrol in the Irish Republic will bring near parity on fuel prices and end a run in the other direction, from NI motorists to Irish border filling stations.
(BMcC)
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