Drinks sector reacts to UK budget 2021

3rd March, 2021 by Nicola Carruthers

The UK budget set out a number of investments and measures to help the industry recover from the pandemic. The Spirits Business has assembled views from across the drinks sector to see if chancellor Rishi Sunak has done enough.

Westminster

The UK budget was held on 3 March

Sunak took to the podium at the House of Commons today (3 March) for the annual budget, the second from the chancellor.

The drinks sector welcomed the announcement that alcohol duty had been frozen for the second year in a row.

Meanwhile, as one of the worst-hit sectors by the pandemic, the hospitality industry was given a number of new measures to help its recovery, including a grant of up to £18,000 (US$25,118) for businesses.

Furthermore, Sunak confirmed the extension of the furlough scheme and business rates holiday, while the 5% value added tax (VAT) reduction rate will be extended for six months until 30 September.

The responses from the drinks sector have been largely positive, however some trade groups have called for additional support.

To read the industry’s response, click through the following pages.

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