Budget offers boost for garden industry

Squire's managing director Dennis Espley has said the recent Budget will prove to be good for the garden industry because pensioners will have more of their money to spend.

The centrepiece of chancellor George Osborne's fifth Budget was the scrapping of rules that force most Britons to use their pension savings to buy an annuity, making it much easier and cheaper for people to withdraw money directly from their pension pots.

With gardening a favourite hobby of pensioners, the newly retired will have more cash to refurbish gardens and buy sheds, summerhouses and garden furniture, said Espley. He added: "While we might question the long-term wisdom of pensioners taking out all the cash, this can only be a bonus for garden centres because pensioners spend it during the more active early years of retirement."


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