"These changes unfortunately increase the likelihood of further price rises, which no brewer or publican would want to inflict on their customers. For brewers, who already pay some of the highest rates of beer duty in Europe, this increase will add further strain to their already razor-thin profit margins and risk one of the UK's world-renowned industries producing the greatest beers in the world."
"Despite the OBR (Office for Budget Responsibility) at last acknowledging higher prices lead to a decline in receipts, the Government fails to recognise that its own policy is benefiting no-one. For the nation's wine and spirit sector the complexities of price changes, especially for wine which is now taxed by strength, mean more red tape headaches ahead. Add to this all the other costs - including NI (national insurance) contributions, business rates and waste packaging taxes -"
Alcohol duty will increase in line with the Retail Prices Index, producing a 3.66% rise from 1 February. Brewers, pub operators, and wine and spirit firms warn that the duty rise will force further price increases and squeeze already thin profit margins. Beer duty in the UK is among the highest in Europe, and brewers say the change risks the viability of renowned brewing businesses. Wine taxation by strength adds complexity and red tape for the wine sector. Industry leaders cite additional cost pressures including national insurance, business rates, and waste packaging taxes that threaten business sustainability.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]