Cheers George! A positive Budget for the brewing sector

THE brewing industry is celebrating after a number of measures were announced by George Osborne which should benefit the industry.

He announced the scrapping of the beer duty escalator which was predicated on an annual 2% increase above inflation, a move that industry analysts believe could save more than 10,000 jobs, mostly in Britain’s pubs.

He also announced a penny off a pint which – in the sense that it isn’t an increase – will please drinkers and landlords alike.

But pub companies will also be pleased about the new 20% rate of corporation tax and a decision to cancel September’s planned fuel price hike.

Ernst & Young tax partner Tim West, said: “It has been a good Budget all around for the brewing companies. They have had a reduction in corporation tax and a reduction in fuel costs as well as a penny off a pint. It is good news all round for them.”

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