It’s been another good year for the industry after this week’s budget announcement, with duty being either cut or frozen across the board. Wine duty has been frozen, beer duty has been cut and the duty on spirits and low strength ciders has been cut by 2%.
So what does this mean for the drinks industry? Mark Holness, Drinks Buyer at Beacon, commented:
“In terms of price, a 70cl bottle of spirit at 37.5% will drop by £0.15 and a litre will drop by £0.21. Spirits at 40% will drop by £0.15 for a 70cl bottle and £0.23 for a litre, and still and sparkling wine will see no change.
This is great news for the industry and it’s clear that the message that fair pricing is needed to keep the industry buoyant is being heard. I was pleasantly surprised to see wine duty frozen after some significant increases in previous years. This category has seen some good growth across the on-trade and this news will certainly help to continue that trend. Overall, these changes should really encourage people to go out more and provide a much needed boost to the industry.”
Howard Ball, Head of Purchasing at Beacon, continued:
“This is fantastic news all round for the industry and provides businesses with a great opportunity to boost sales and improve profitability. We work closely with all our suppliers, to offer you help and advice to be able to make the most of this opportunity.”
For more information about your drinks purchases, or how Beacon might help your business, call us on 01904 695588 or Contact Us.