Tag Archive | "Budget"

British Chancellor Continues To Target Alcoholic Drinks

British Chancellor Continues To Target Alcoholic Drinks

The UK's Chancellor of the Exchequer has again hit alcoholic drinks with a 2% above inflation price rise on beer, wines and spirits. 10% going on cider Alistair Darling, in his latest and probably his last budget, has confirmed that duties on beers, wines and spirits will go ahead with a tax escalator which automatically increases tax on alcohol by two percentage points above inflation and he is putting 10% on cider, all from midnight this Sunday (March 28). He added that there was a "long standing anomaly" with the duty on cider and in September the categories would be redefined with stronger cider being taxed more heavily - a move designed to tackle harmful and under-age drinking. The Wine & Spirit Trade Association, the lead body for the industry, has come out and said the "5.1% increase in alcohol duty brings further unwanted price rises for consumers and threatens to cause more job losses in the drinks industry in the year ahead." WSTA chief executive Jeremy Beadles said: "Successive punitive tax rises on alcohol are taking their toll on household budgets and mean further job losses in the drinks industry are on the cards this year. "The last year alone has seen business closures and 30,000 job losses and today's Budget means higher prices for consumers and more misery in a sector that ought to be part of Britain's economic recovery." The WSTA says the budget rise means taxes on wine and spirits have risen by more than 25% and 20% respectively since March 2008. Since 1997 the Government has taken an extra £4 billion from consumers in alcohol taxes. The effect of the tax on a typical item is as follows: - 10 pence on a 75cl bottle of wine - 36 pence on a 70cl bottle of spirits - 2 pence on a pint of beer [...more]

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Monday, January 22, 4:11 am

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