Tobacco Tax, Beer duty and fuel duty announcements
As it’s a full Budget, there could be announcements about other taxes too.
Some taxes usually rise annually, such as rates of duty on alcohol and tobacco.
These are officially known as Tobacco Tax, Beer duty and fuel duty.
Fuel duty has been frozen for more than a decade, and Mr Sunak promised to continue that until 2023 when he was Chancellor.
As the cost of living continues to rise it’s unlikely that the government will want to add more to household costs by changing that.
In one of several recent u-turns, Mr Hunt said that beer, cider and wine prices will rise after all, reversing an earlier freeze announced in the mini-Budget.
Alcohol duty rates will now rise in line with RPI – the retail price index – but they were going to be frozen.
It will save the Treasury around £600million this year.
It’s likely to be the equivalent to 7p on a pint of beer, 4p on a pint of cider, 38p on a bottle of wine and £1.35 on a bottle of spirits.
When it comes to taxes on cigarettes, they generally rise each year, pushing the price of cigarettes higher.
