RETAIL SECTOR SLUMP

That this House is concerned at the ever rising number of high street retailers who are entering administration in England and Wales; notes that since the beginning of 2012 the number of retailers entering administration has risen 15 per cent compared to the same time last year; further notes that the total number of businesses, including retailers, which went bust in England and Wales went up in 2011 after having fallen slightly in 2010; believes that these results show that the Government's plans to redress the loss in public sector employment through private sector employment is failing; and calls on the Government to re-evaluate schemes which would bring much needed support and stability to our high street and small retailers such as a temporary cut in VAT.