UK to see ‘biggest single alcohol duty increase in almost 50 years’

[Eldorado]

Drinkers face significant price hikes from Tuesday when tax increases will see the duty on a bottle of wine rise by as much as 20%.

First set out by then chancellor Rishi Sunak in 2021, the new system aims to encourage consumers to cut back by taxing all alcohol based on its strength, rather than the previous categories of wine, beer, spirits, and ciders.

Mr Sunak described the overhaul as “the most radical simplification of alcohol duties for over 140 years”, enabled by Britain’s exit from the EU.

MSN

[pellinore]

 

Another Brexit 'win' then. If we had stayed in the EU we wouldn't be able to both raise prices for customers and cut profits for producers, to such an extent that some will go bust. I don't think the UK can take any more 'wins'- but we are stuck with it. Wait till the CPTPP and Australia  deals wreck our farming industry.

Mr Sunak described the overhaul as “the most radical simplification of alcohol duties for over 140 years”, enabled by Britain’s exit from the EU.

WSTA chief executive Miles Beale said: “We are careering towards an extremely tough period for wine and spirit businesses with tax hikes and other costs, including a prolonged cost of living crisis for their consumers, persistently high inflation, especially for food and drink, and rocketing prices for glass, leaving little room for many businesses to turn a profit. Inevitably some won’t be able to stay afloat, with SMEs most at risk.

“Amongst all this pressure the Government has chosen to impose more inflationary misery on consumers on August 1, with the biggest single alcohol duty increase in almost 50 years.

Consumers to see ‘biggest single alcohol duty increase in almost 50 years’ (msn.com)

Edited July 31 by pellinore