Bad news for cash-strapped boozers as the prices of drinks is set to take a hike from February after Reeves’ brutal Budget, with a bottle of whisky planned to increase by 50p
Rachel Reeves plans to hike alcohol duty by 4.5% from February 1 – but how will it affect your favourite booze? Last year, hardworking Brits already saw a 3.6% increase in duty on their drinks, but the Chancellor isn’t done yet. While industry leaders are urging the government to freeze duty, Reeves has other ideas for the November 26 Budget.
A 75cl bottle of red wine, 13.5% abv, costs £8.50 and is set to rise by £0.16 to £8.66 from February 1. White wine, 11% abv, will rise from £8.25 to £8.38. Gin 37.5% abv, 70cl, will see a hike of £0.47 from £19 to £19.47.
Scotch whisky, 40% ab, 70cl will rise from £18 to £18.50.
A 25cl bottle of pre-mixed vodka, 5%, will rise from £2.15 to £2.17. Prosecco, 11%, 75cl, will see a £0.14 increase from £12.50 to £12.64.
Lager, 4.16% (4x330ml) will increase from £6 to £6.07, while a four pack of cider, 4.5%, will increase by £0.04 from £5.25 to £5.29.
This week, Heineken said it would drop Foster’s lager strength from 3.7% to 3.4% after the proposed duty changes. The brewer said it would allow customers to “benefit from more competitive pricing as inflationary pressures continue to affect the wider market.”
The news comes as the hospitality sector launches a scathing attack on potential tax rises for wine and spirits, branding it a “depressing prospect” for an already beleaguered industry.
“We’re all fed up with having to put up prices up, because we know that it’s going to cheese off our customers, but we’ve got very little option,” said Clive Watson, founder of The City Pub Group.
But a think tank last month suggested an alcohol tax rise to tackle a “productivity crisis”, given that nearly one in three workers have called in sick after drinking at work events in the past year.
Many young people say they feel pressured into drinking to “fit in” or progress their career, the Institute for Public Policy Research (IPPR) poll revealed.
For the latest breaking news and stories from across the globe from the Daily Star, sign up for our newsletter by clicking here.