First coalition Budget set for June 22

By James Wilmore

- Last updated on GMT

Related tags: George osborne, Tax, Beer, Chancellor george osborne

The first Budget under the new coalition government will be unveiled on June 22. Chancellor George Osborne today confirmed the date of the emergency...

The first Budget under the new coalition government will be unveiled on June 22.

Chancellor George Osborne today confirmed the date of the emergency Budget, which the Tories had promised within 50 days of taking power.

Many in the pub trade fear a hike in VAT will be included in Osborne's first Budget speech in Parliament.

During an interview on the BBC's Andrew Marr show yesterday, Prime Minister David Cameron did not rule out a rise in VAT.

On alcohol duty, it remains unclear whether the government will push ahead with Conservative plans to raise taxes on super-strength beers, ciders and "alcopops".

The Lib Dems previously promised to review the system around alcohol tax to ensure it tackles "binge-drinking", without "unfairly penalising responsible drinkers, pubs and important local industries".

They also vowed to review the beer duty escalator and "explore the possibility" of a preferential rate of duty for draught beer.

However Osborne said today the "bulk" of measures to reduce the deficit would be spending cuts, not tax rises.

Related topics: Legislation

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