Today's figures showing VAT receipts are 5% below target are a reminder of just how much this economy depends on spending in our shops to keep it going. But right now, that spending has dried up and shops are suffering and shedding jobs at an alarming rate.
Retailers say the one thing the Government can do to help is to abolish "upward only rent reviews" where retailers are locked into leases that say that their rent can stay the same or go up but can never go down.
Landlords, however, argue that these leases were entered into freely and that they have taken out bank loans on the back of them - loan which they can't repay if their rents fall. It's a tricky one for the new Government - they don't want to force more distressed loans onto the banks but it does seem crazy that shops have to pay higher and higher rents just as their sales go through the floor.
Minister for Justice Alan Shatter will be joining us tonight along with many shop owners who say they can't cope and those on the other side of the argument who say the last thing the Minister should do is interfere with existing leases.
Also, has the Govt done a u-turn on the banks? Professor Richard Portes from the London business school will be with us to argue that there's no future in current Govt policy on the banks and burden-sharing is the only way - but can it be done with Europe opposes it ?
We want to hear your point of view. Add your comment below or email us to thefrontline@rte.ie
And enjoy the show
