Mini Budget 22: Government cancels planned increases to alcohol duty

New digital VAT-free shopping scheme

Valeria Martinez
clock • 1 min read

The government will scrap the planned alcohol duty increase for wine, beer and spirits, Chancellor Kwasi Kwarteng told the House of Commons at today’s (23 September) Mini Budget.

"I have listened to industry concerns about the ongoing reforms. I will therefore introduce an 18-month transitional measure for wine duty. I will also extend draught relief to cover smaller kegs of 20 litres and above, to help smaller breweries," he said.  He added: "At this difficult time, we are not going to let alcohol duty rates rise in line with RPI. So I can announce that the planned increases in the duty rates for beer, for cider, for wine, and for spirits will all be cancelled." Mini Budget 22: Government to target growth of 2.5% In a report published alongside the speech,...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Investor confidence dips in June as global growth remains weak
UK

Investor confidence dips in June as global growth remains weak

2% monthly decrease

clock 20 June 2024 • 3 min read
Core inflation figures 'final nail in the coffin' for hopes of June BoE rate cut
UK

Core inflation figures 'final nail in the coffin' for hopes of June BoE rate cut

'Sticky' core inflation ongoing

clock 19 June 2024 • 3 min read
UK grocery inflation drops to lowest rate since October 2021
UK

UK grocery inflation drops to lowest rate since October 2021

Down 0.3% from May

clock 18 June 2024 • 1 min read
Trustpilot