Tweet
Tax on alcohol will rise substantially from midnight on Sunday with a 6% above inflation hike, the Chancellor has revealed in today’s Budget.
Duty on beer will rise 3% while taxes on wine will increase by 14 pence per bottle.
Spirits will rise by 55 pence per bottle and the Chancellor has put alcohol taxes on a price escalator of 2% above inflation for the next four years.
Rob Hayward, chief executive of the British Beer & Pub Association, said: “It’s a decision doomed for failure – bad for taxpayers, beer, pubs and bad for the Treasury as well.”
Meanwhile the Chancellor also confirmed that reforms for capital gains tax will come in with “entrepreneurial relief” providing a special 10% tax rate for up to £1m of gains.
The concession came after plans to announce a single rate of 18%, announced in last October came in for widespread criticism from business leaders.
Government changes to capital gains tax revision met with caution >>
Treasury ‘black hole’ on beer tax >>
Drinkers against tax rise on alcohol >>
57 pubs close permanently a month >>
Pub closure rate rises in 2007 >>
By Christopher Walton
E-mail your comments to Christopher Walton here.
Using foraged ingredients is nothing new but the trend has become more mainstream over the past two years. However, the wider use of foraged food in restaurants also carries a certain amount of danger.
Watch here
Best of Chef – now available online View it now
09 Feb 2012
08 Feb 2012
06 Feb 2012
03 Feb 2012
07 Feb 2012
31 Jan 2012
30 Jan 2012