Autumn budget: Fuel, beer and spirit duty rises cancelled

Planned tax increases on fuel, beer, wine, cider and spirits have been canceled by Rishi Sunak.

When presenting his autumn budget, the Chancellor said: “I can confirm today that the planned increase in fuel tax will be canceled. That’s a saving of nearly £ 8 billion over the next five years, now a total of £ 1,900 saved.

“With fuel prices at their highest level in eight years, I’m not ready to put the pressure on families and small businesses.”

In response to the fuel tax freeze, RAC fuel spokesman Simon Williams said: “We welcome the Chancellor’s confirmation that the customs tax will remain frozen at 57.95 Pa liter until next year.

“With pump prices at record highs, now would have been the worst possible time to change course and further increase costs on the forecourt.”

Regarding the alcohol tax, Mr. Sunak said, “The proposed increase in the tax on spirits such as scotch whiskey, wine, cider and beer will all be lifted from midnight tonight. We are also taking five steps today to create an alcohol tax system that is simpler, fairer and healthier.

“I can confirm today that the planned increase in tariffs on spirits such as scotch whiskey, wine, cider and beer will all be lifted from midnight tonight. That’s a £ 3 billion tax cut. “

“Draft Relief will apply a new, lower tariff to draft beer and cider. This will particularly benefit community pubs, which do 75% of their trade in draft beer. It’s not a freeze, it will cut tariffs by 5%. long-term investment in UK pubs of £ 100 million a year. “

The Chancellor told MPs that over the next five years, car drivers will benefit 8 billion, especially community pubs, which do 75% of their trade on tap. Let me convey the new sentence to the House: the draft decree will cut tariffs by 5%.

“This is the biggest cut in cider tax since 1923. The biggest cut in fruit must in a generation. The biggest reduction in the beer tax in 50 years. This is not temporary but a long term investment in UK pubs of £ 100m a year. And a permanent reduction in the cost of a pint by 3 pence. “

Mr Sunak said the reforms will take effect in February 2023.

In his last announcement on the alcohol tax, the Chancellor said: “I can confirm that the planned increase in the tax on spirits such as scotch whiskey, wine, cider and beer will be canceled from midnight today. That’s a £ 3 billion tax cut.

Mr. Sunak also announced a 50% annual discount off business rates for retail, hospitality and leisure.

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