From February 1, the tax on alcoholic beverages will increase by 3.66%, affecting all types of alcohol sold in the UK. Industry representatives have indicated that this rise in duty is likely to lead to higher prices for consumers.
Producers and retailers are preparing for the impact of the increased tax, which is part of the government’s routine adjustment to alcohol duties.
**Why this matters**
The increase in alcohol duty can influence consumer spending and the overall cost of alcoholic drinks. Higher prices may affect purchasing habits and could have implications for both businesses in the alcohol supply chain and customers.