The Wine and Spirit Trade Association has warned ahead of Alistair Darling’s first Budget on March 12 that a 10% increase in taxes on alcohol would see more than 50,000 jobs lost in the industry and the economy losing out on £2.8bn.
The Independent on Sunday says the chancellor of the exchequer is widely expected to hike taxes on wine and spirits.
Research the trade body commissioned argues that a 10% rise in tax would only result in a 1.9% reduction in wine-drinking and a 4.8% decrease in the consumption of spirits.
The Independent on Sunday 03/02/08 (Business) page 3
