Planned increases in the duty we pay when we buy alcohol have been scrapped by Chancellor Kwasi Kwarteng. The amount of tax paid on drinks was set to go up - in line with the huge inflation rates - but the Chancellor announced during a mini-Budget that that will now not happen.
Mr Kwarteng said: “Our drive to modernise also extends to alcohol duties. 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. And, 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.”
The Chancellor also said that VAT-free shopping would be introduced for overseas visitors.
