Northampton-based brewing giant Carlsberg UK has said that today’s announcement of another cut in beer tax is “tremendous news” for brewers.
The confirmation came during Chancellor George Osborne’s budget speech today, where he announced a 1p cut in beer duty - the third reduction in a row.
It will support continued investment in jobs, innovation in new products and expansion from brewers, big and smallBruce Ray, Carlsberg UK corporate affairs director
Bruce Ray, Carlsberg UK corporate affairs director, said: “This is further tremendous news for Britain’s brewers, publicans and everyone who enjoys a pint of beer in the pub.
“It will support continued investment in jobs, innovation in new products and expansion from brewers, big and small.
“Through this investment brewers like ourselves are able to demonstrate the crucial social and economic contribution that we make to the UK, underlining what beer gives, rather than takes away, from our society.”
Today the Chancellor also announced a cancellation of a planned rise in fuel duty, a review of the business rates system and the abolition of National Insurance Contributions (NIC) for employing under 21s and the self-employed.
Paul Griffiths, chief executive of Northamptonshire Chamber of Commerce, said: “Cancelling the planned fuel duty rise in September will be a huge benefit not only to Northamptonshire’s logistics firms who has chosen to base themselves here because of its excellent transport links, but also to the many sole traders and small businesses in the county for whom it can be a significant cost.
“In delivering the Budget, Mr Osborne confirmed the Government will review the unpopular business rates system – a structure which provides huge discrepancies in bills regardless of turnover. This is long overdue.”
He added that Mr Osborne’s promise that the Annual Investment Allowance of £500,000 will not be cut to £25,000 at the end of the year as planned, was also welcome news. But, he said: “It is not clear as to what the new figure will be so we wait to hear more details in the autumn - businesses need certainty to invest in the future.
“Britain needs a long-term economic plan and the Government or incoming government must stick with it.”