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| 15 November, 2022
Over 100 business executives from across the alcohol industry signed a letter written to the Times calling on the Chancellor to bring back the duty freeze.
The letter published in the Times – https://www.thetimes.co.uk/article/alcohol-industry-bosses-warn-against-duty-increase-bfr662jj5 – was signed by 116 businesses and trade bodies.
Miles Beale, Chief Executive of the Wine and Spirit Trade Association, said:
“The mood across the UK alcohol industry is bleak following the Treasury’s U-turn on a duty freeze. Businesses feel like the rug has been pulled from under them and are bracing themselves for the Chancellor to deliver a damaging double-digit tax rise at the Autumn Budget this week. This could not have come at a worse time for the alcohol trade with bars and restaurants, producers and suppliers still reeling from pandemic lockdowns and having to manage ever-increasing costs and global supply chain issues.
Cash-strapped consumers will be picking up the bill with prices of their favourite drinks set to soar next year. We are calling on Jeremy Hunt to throw us a lifeline, there is still time to bring back the duty freeze. History has shown that freezing alcohol duty does not negatively impact on Treasury coffers, over the past five years during a stable period for alcohol duty, government income from taxing alcohol has increased by 18% – because of, not despite, duty freezes.”