“I can announce today a ‘pressure relief’. “It is in these terms that the British Chancellor Rishi Sunak announced this Wednesday a reduction in taxes on beer and cider, reports the HuffPost.
The measure was unveiled during the presentation of the post-Covid and post-Brexit budget plan. The tax on draft beer and cider served in casks or casks of more than 40 liters in pubs will be reduced by 5%. “This is the biggest drop in cider since 1923,” said the Chancellor.
“The biggest cut to beer duty for 50 years”
Chancellor Rishi Sunak announces “draught relief”, a new 5% lower rate of duty on draught beer and ciderhttps://t.co/ofact9k6IL pic.twitter.com/Xi7DyWWJjA
— BBC News (UK) (@BBCNews) October 27, 2021
Strong alcohols more taxed than others
This announcement caused enthusiasm in the British hemicycle. As Rishi Sunak detailed the measure, the chosen ones around him launched many cries of joy. The news also had another fairly immediate effect: the rise in the stock market shares of some British pubs.
Marton’s shares jumped 6%, JD Wetherspoon 5% and Mitchells & Butlers 4%. The British government does not want to stop there and wants to put in place a tax system based on the degree of alcohol. Thus, strong alcohols will be taxed more heavily than lighter drinks such as rosé wine, beer or cider.
