Budget 2024: Rachel Reeves commits to increased tobacco duty

Alcohol and tobacco duty will rise in line with inflation, Chancellor Rachel Reeves has announced today in her Budget.

For the financial year 2025-26, the UK’s Alcohol Duty is forecast to raise around £13billion. That amount corresponds to 1.1% of all government receipts, about £450 per household, and roughly 0.4% of national income. This is a 5.1% decline relative to 2024-25.

Taxes are also rising on remote gaming from 21% to 40%, and on online betting from 15% to 25%, while there are no changes for in-person gambling or horse-racing, and bingo duty is being abolished in Rachel Reeves' Budget.

There was some good news for pubs with Rachel Reeves announcing that the duty on draught products sold in pubs will be cut — roughl

See Full Page