UK TO CUT BEER TAX
In a bid to help struggling British pubs recover from the pandemic, beer taxes are to be cut.
Rishi Sunak, the British finance minister, said that it’s the biggest cut in taxes on beer in decades.
In his budget statement, Sunak said the current system of alcohol taxes, which dates back to 1643, was outdated and too complicated as he outlined a new principle, which will see some stronger drinks become more expensive, reports News24.
During the pandemic, many industries in Britain suffered massive losses due to closures and restrictions. But none of them was as bad as the pubs as they were forced to stay close for months on end, had to keep their trading hours limited to curfews set out by the government and at one stage it was even a requirement that patrons had to order a substantial meal before they could be served drinks.
The new taxes will be based on the strength of the drink with beer taxes to be cut while hard liquor’s tax will increase drastically.
‘Draught relief’ as the tax cut has been named, would see the biggest beer tax cut in 50 years and the biggest cut on cider duty since 1923.
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