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Jeremy Hunt unveiled several tax measures in his Budget today including a freeze to fuel duty and a “Brexit pubs guarantee” that will see the tax on draught pints inHe also revealed tobacco duty would rise in line with retail price inflation which stands at 12.7 per cent, plus a minimum extra rise of two per cent that applies to tobacco products.
Petrol prices have dropped from a high point of over £1.91 per litre in July to around £1.48 today – similar to the level we saw about a year ago. Hard-pressed publicans will breathe a sigh of relief – but the drinks industry faces a headache nonetheless with the pending introduction of a new taxation regime which takes effect in August.will also have to fork out nearly £15 for an average pack of cigarettes, after the Chancellor announced that he would raise tobacco duty for the first time since October 2021.
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