A new report by the Institute of Economic Affairs has called on the Government to reduce VAT, halve alcohol duty, amend the smoking ban and scrap cumulative impact zones in order to help stop pubs closing.
Twice during his Budget speech, George Osborne stated that he wanted a transparent tax system. He also said that it should be fair. But the swift dismissal of the pub industry in his budget was anything but transparent, or fair.
The pub industry is in a state of utter shock this morning after the news that alcohol duty will rise again by 8% from Monday — representing a 17% increase for the year. The increase, unlike the VAT cut, is permanent.