Overview
- Reports indicate the Chancellor is considering an inflation-linked 4.5% increase on wine and spirits in the November 26 Budget.
- The Wine and Spirit Trade Association estimates the rise would add about 14p to Prosecco, 16p to red wine and 47p to a bottle of gin.
- Official data cited in coverage show overall alcohol duty receipts are down nearly £300m so far this financial year, with HMRC figures indicating spirits duty revenue has fallen by £700m since 2023.
- City AM analysis reports 449 pubs and bars entered insolvency in the first 10 months of the year and around 89,000 hospitality jobs have been lost since last October, exceeding earlier OBR expectations.
- Polling commissioned by the UK Spirits Alliance finds 91% of landlords would raise prices if duty is hiked, as industry groups and MPs press for a freeze.