“As well as confirming our Brexit pubs guarantee, which means the duty on a pint is always lower than in the shops, I have decided to freeze all alcohol duty until 1 August next year. That means no increase in duty on beer, cider, wine, or spirits.” The Treasury claims that the f...
£12.4 billion was paid in alcohol duty to HMRC, the second highest total in the last 20 years. However, it also noted a 5.1% reduction on the record 2021-2022 figure, the steepest annual decline seen in a single year over the last two decades – supporting the argument that people...
Last week, Prime MinisterRishi Sunak, who is teetotal, was heckled at the Great British Beer Festivalin London when he claimed alcohol duty reforms are "backing British pubs". His visit came on the day of an alcohol duty increase. Rishi Sunak heckled while pulling a pint Read more:...
"The rate of inflation ticked up a little in December, with rises in tobacco prices due to recently introduced duty increases," said Grant Fitzner, chief economist of the ONS. Prices in the alcohol and tobacco division rose by 12.8 percent in the year to December. As announced in Autumn St...
The tobacco and vaping measures, along with a one-off increase in the Soft Drinks Industry Levy, will raise nearly £1 billion a year by the end of the five-year forecast, she said. Alcohol duty rates on non-draught products will rise in-line with retail price inflation, but duties on...
As consumers have been affected by both higher cost of living and higher bottle prices, due to higher production costs and an increase in alcohol duty rates, purchasing has shifted to less consumption but more premium products. Show more - Description Published by Jan Conway, Feb 23, 2024...
Hunt also extended the alcohol duty freeze to February 2025, to "benefit 38,000 pubs across the UK." The duty freeze was supposed to end this August. An excise duty on vaping products will be introduced from October 2026, as well as a one-off increase in tobacco duty, said Hunt. ...
15. Alcohol Duties – Draught Relief The alcohol duty freeze is set to end on 1 August 2023. Following this date, duties on alcohol will go up in line with inflation as usual, with taxes generally based on alcohol volume. However, the Chancellor announced that on 1 August 2023 Draught R...
He added that the freeze in alcohol duty is "very helpful" at a time when brewers are seeing an increase in supply and running costs.
Food and alcohol prices are also forecast to have edged higher ahead of the festive season, while economists expect an increase in petrol costs between October and November to have added to overall price pressures. (PA Graphics) Meanwhile, Sanjay Raja, senior economist for Deutsche...