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The UK Government has announced a six-month extension to alcohol duty rates freeze to 1 August 2023. The current alcohol duty freeze was expected to come to an end on 1 February 2023.
At Autumn Budget 2021 the UK Government announced the biggest reforms to alcohol duty in 140 years. The changes overhaul the UK’s rules following exiting the EU, to give industry more time to prepare the reforms will take effect from 1 August 2023.
See: Government announces six-month extension to alcohol duty freeze - GOV.UK (www.gov.uk)
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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