At today’s Budget, the Chancellor of the Exchequer, Philip Hammond, announced that the duty rates on beer, cider, wine and spirits will be frozen. This means that the duty on 750ml bottle of wine will remain at £2.16, on a 750ml bottle of sparkling wine at £2.77, and that a pint of beer will cost 12 pence less than it otherwise would have done.
In 2018, this will save the wine and spirits industry more than £200 million. This is an especially welcome announcement at this time of year, as the final quarter of the year around the Christmas period accounts for more than half of total consumption of sparkling wine. Our local pubs, who are often the hearts of our communities, will also benefit from the freeze, helping to protect the proud British tradition.
With 502 British vineyards, including 14 in Wealden, the British wine industry is stronger than ever. Bluebell Vineyard, near Uckfield, has more than doubled in size since 2005 and last year won 16 medals at international wine competitions. In 2016, the wine industry alone was worth almost £11 billion in sales, with 60% of adults drinking wine – the equivalent of 31 million people.
Other measures in the Budget include the abolition of stamp duty for 80 per cent of first time buyers, almost £3 billion more for the NHS and another increase in the tax free allowance to £11,850. This Budget is investing in the long term while supporting families and businesses under pressure now.
Commenting on the Budget, Ms Ghani said: “I am delighted to welcome the freeze on alcohol duty. This is great news for our local pubs and the booming Wealden wine industry. I campaigned hard for a freeze in alcohol duty, and know that this decision will be welcome across the entire wine industry, including the 14 vineyards in Wealden.
British wine rivals the very best of continental Europe, so it is great to see the Chancellor rewarding the industry as well as the millions of people who enjoy our wines across the country. With tax accounting for more than 50% of the average family’s Christmas alcohol shop, the freeze in alcohol duty brings some very welcome festive cheer.”