In today’s budget Chancellor of the Exchequer George Osborne announced a 1p reduction in duty tax on a pint of beer. With the recent proposed changes etc. In the minimum pricing of alcohol being scraped over the past couple of weeks, this reduction in the price of beer is welcomed within the industry.
With the current financial climate being as it is, this reduction is a much needed boost to the drinks and events industry. Director of events company Mobile Bar Hire Ltd Ragbhir Sandhu commented on today’s budget by saying “it’s a tough market at the moment for the events and drinks industry as a whole and this 1p reduction is not enough to give the industry a boost, however, it is a start.”
Other major changes within this year’s budget including the fact that public sector pay increases will be limited to 1% in 2015/2016; 450,000 small firms will pay no employer National Insurance; the flat rate pension will be brought forward to 2014 and the personal income tax allowance will be increased to £10,000 by next year.
Please let us know what your thoughts are on the budget 2013?