To anyone who spends their hard earned cash on alcohol and tobacco bad news, you are going to have to work even harder as of tonight.
As part of today’s Spring Budget speech Chancellor Philip Hammond confirmed that duty on fags and booze will be hiked.
As reported by The Sun it is the first rise in five years on the products.
As of 6pm tonight the cost of a packet of 20 cigarettes will rise by 35p, while the cost of tobacco products will go two per cent higher than inflation.
And don’t think smoking rollies will see you excused either. The cost of a 30g pack of rolling bacci will soar by 44p.
Colin Valentine, chairman of The Campaign For Real Ale, said of the price increases:
UK beer drinkers, pubs and brewers have been let down by the Chancellor’s decision to increase beer duty for the first time in five years.
The announced two penny a pint increase marks a return to the days when the much-hated Beer Duty Escalator contributed to 75,000 job losses, 3,700 pub closures and a 24 per cent fall in beer sales in pubs. The rise in beer duty will ultimately hit consumers in their pockets and lead to pub closures across the country.
Wine drinkers must endure price hikes of 8p for every bottle of still wine, 10p on sparkling wine, vodka will go up by 40p, and mothers across the nation will weep as a litre bottle of gin will now cost 43p more.
Potentially another nail in the coffin for many of Britain’s struggling public houses, while consumers will have difficult lifestyle choices to make.
Well there’s only one thing for news like this…I need a drink.