Retailers bank on tax and rate cuts to overcome sluggish year ahead

Retailers are betting on tax and interest rate cuts to buoy spending in a year that is forecast to see the slowest growth in sales since 2017.

Overall sales are expected to grow at just 2.5 per cent over the next 12 months, compared with 3.4 per cent last year, and will be pulled lower due to falling inflation – which has boosted prices but pushed down volumes – according to MST Marquee.