There were few silver linings in today’s Budget announcement – but one measure the Labour lot are rather keen to harp on about is the cut to draught duty by 1.7 per cent. What exactly does this work out at? Er, a rather measly one penny off the cost of a pint. How very generous…
While the announcement received one the most enthusiastic cheers in the chamber, it seems that industry experts are not quite as thrilled about the move. Rachel Reeves was rather fast to glaze over the fact that the Labour government will raise alcohol duty rates on products like spirits and wines in line with the retail price index from February next year. Despite the government framing the ‘penny off a pint’ move as a positive one – as, the Chancellor said, ‘nearly two-thirds of alcoholic drinks sold in pubs are served on draught’ – there remain fears that tax hikes on other types of alcohol will hurt suppliers.