Chancellor Reeves considers raising alcohol duties for £800m, potentially affecting sales and revenue, while industry leaders urge a two-year freeze.
Chancellor Rachel Reeves is contemplating an increase in alcohol duties to address a £22 billion public finance shortfall in the upcoming budget, potentially generating £800 million. Industry leaders warn this could harm sales and revenue, citing previous duty hikes that negatively affected both businesses and tax receipts. The Wine and Spirits Trade Association is advocating for a two-year freeze on alcohol duties to stabilize the struggling hospitality sector.
September 20, 2024
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