As reported in the Morning Advertiser, the duties on all wines over 11.5% ABV (80% of the UK market) will see the prices rise by around 38p per bottle. This follows on from recent industry reports that due to inflation the price of a pint of beer could rise by as much 50p.
With the leisure and hospitality industry still emerging from what has essentially been a recession, caused by the various lockdowns, any price rises will impact on consumer demand.
According to Wine Drinkers UK, a group of wine lovers, producers and sellers, the duty collected by HMRC from the sale of wine, since 2010, was nearly £6bn more than the duty raised from the sale of beer.
The proposed price hike is universally unpopular and will impact women far more than men, as wine is consumed by twice as many female drinkers than male imbibers.
Here at Hand Crafted Drinks Magazine we would urge any proposed tax increases to be put on hold indefinitely.
For more information about Wine Drinkers UK visit their website