Cheers! Chancellor FREEZES tax on beer, wine AND cider in major budget boost to stop pubs shutting during coronavirus crisis
- The Chancellor said he was abandoning a planned rise in duty on spirits
- Sunak also revealed he would freeze the rates on beer, cider and wine as well
- Was among measures designed to immunise the high street against coronavirus
Drinkers will be raising a glass to Rishi Sunak after he stepped away from increasing booze taxes in the Budget today.
The Chancellor said he was abandoning a planned rise in duty on spirits and would freeze the rates on beer, cider and wine as well.
The announcement was one of a slew of announcements designed to help Britain’s under-pressure High Streets and pubs as they struggle against an expected major coronavirus slowdown in the economy.
The Chancellor said he was abandoning a planned rise in duty on spirits and would freeze the rates on beer, cider and wine as well.
Mr Sunak said from the coming year he would take the ‘exceptional step’ of abolishing business rates for businesses with a rateable value below £51,000.
A ‘temporary coronavirus business interruption loan scheme’ will be introduced for banks to offer loans of up to £1.2 million to support small and medium-sized businesses.
The Chancellor said that the Government will meet the cost for businesses with fewer than 250 employees of providing statutory sick pay to those off work ‘due to coronavirus’.