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

OECD downgrades UK growth forecast to 1.4% for 2025
UK

OECD downgrades UK growth forecast to 1.4% for 2025

2026 forecasts also lower

Sorin Dojan
clock 17 March 2025 • 2 min read
Reeves to overhaul regulatory regime in move to kickstart growth
UK

Reeves to overhaul regulatory regime in move to kickstart growth

FCA and CMA to undergo changes

Sorin Dojan
clock 17 March 2025 • 2 min read
UK public expects inflation to hit 3.4% in coming year
UK

UK public expects inflation to hit 3.4% in coming year

Up from 3% in November

Sorin Dojan
clock 14 March 2025 • 2 min read
Trustpilot