Drinkers to pay more for alcohol from August
Drinkers will face huge tax hikes after the Chancellor today confirmed that the price of wine and spirits will rise from August.
Jeremy Hunt has increased alcohol duty rates in line with inflation.
However, the Chancellor will cut the duty charged on draught pints in pubs across the UK by 11p in August.
It comes after distillers and brewers begged Mr Hunt to extend the freeze on alcohol duty as they face huge cash pressures.
Sarah Coles, head of personal finance at Hargreaves Lansdown said: “The tax on alcohol will rise 10.1% in August, but there will be a separate rule for draft beers in pubs, which will mean the duty on draft pints is 11p lower than in supermarkets.
“There’s also the hope that the delay in rising duty will protect the nation’s drinkers while inflation is so high, and only kick in when it has started to fall back.”
