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    This has been a very depressing week across the UK's retail sector. Literally thousands and thousands of people are losing their jobs or have lost their jobs already. Legendary names like Habitat and Moben kitchens have collapsed. The Jane Norman retail chain has closed with the loss of 4,000 jobs. The TJ Hughes chain has closed and I believe thats another 4,000 jobs as well.

    Although recent government figures did show a drop in unemployment levels I'm afraid to say it looks like the gains will be shortlived.

    And there's more...Thorntons the noted chocolate purveyor is closing 180 stores and Carpetright is axing 50 of those huge type warehouses...staff all going for a Burton.

    This is a pretty damning picture. Was George Osborne right to increase VAT to 20% ??...its beginning to look like that was a strategic error as experience shows us that the retail sector is very sensitive to any movement in VAT. In buoyant times the increase might have been absorbed but these arent buoyant times. Households everywhere are reeling from the extra costs in petrol, utilities...well the list goes on...and the High St is feeling the impact.

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