Another blow to pubs as Darling announces increase on alcohol duty
Chancellor Alastair Darling today announced another increase in duty on alcohol and tobacco to help pay for the widely trailed 2.5% cut in VAT from 17.5% in his Pre-Budget report.
While VAT would be cut by 2.5% to 15% for a period of 13 months starting next Monday, Darling said he would raise duty further on alcohol in order to keep it at the same price despite the drop in VAT.
The blow for the pub industry follows the 9% increase in beer duty announced in the last Budget with a promise of a 2% above inflation rise for the next four years.
In more positive news for industry, Darling announced that £1b will be available under the Small Business Finance Scheme, with fairer terms than before.
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By Daniel Thomas
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