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ROYAL CHALLENGES CHANCELLOR TO DROP THE DUTY
March 11, 2015
Richard Royal has written to Chancellor George Osborne requesting a cut in alcohol duty at the forthcoming budget.
The Conservative Parliamentary Candidate for Hartlepool has challenged the Chancellor to make a 2% cut to help boost the local leisure and hospitality industry as well as brewers such as Cameron’s.
Within and around Hartlepool this sector is of major importance, employing a large number of people and providing many flexible jobs for young people such as students.
At a national level, the UK alcohol industry is worth £22 billion to the UK economy, employing 518,000 people directly and supporting a further 1.1 million UK jobs.
The proposal, which is also supported by the Tax Payers’ Alliance, The Wine & Spirit Trade Association and The Scotch Whiskey Association, could increase investment across the industry and boost public finances by £1.5bn.
Richard Royal said:
“UK consumers currently pay extremely high rates of tax on alcohol - 80% on an average priced bottle of spirits and nearly 60% on an average priced bottle of wine. High prices inevitably effect consumer behaviour and the profitability of businesses, which impacts upon the success of local pubs, restaurants and shops.”