The trade reacts to a disappointing Budget

Trying to extract any optimism from the autumn Budget is potentially a fool’s errand. Alcohol duty will increase in line with RPI – a move many in the sector had pleaded with the government not to make. With RPI currently set at 3.66%, according to the WSTA, this will see duty go up 11p on an average bottle of Prosecco, 13p on a bottle of red wine and 38p on a bottle of gin. This, combined with the cumulative strain of the inflationary pressures of the past five years on consumer buying power, will likely continue to inhibit spend on alcohol.