Chancellor of the Exchequer, Rishi Sunak, is making his Budget statement to the House of Commons.
Planned rise in fuel duty will be cancelled.
Changes will come into effect in 2023, but duty rises due tonight at midnight will be cancelled.
There will be a new draught beer and cider duty, a cut of 5% on duty in pubs.
Duty to be cut on fruit ciders, to level up with apple ciders.
There will be a small producer relief, extended to cider producers, and other small alcohol makers.
Duty rates slashed from 15 to six. The higher the ABV, the higher the tax.
New 50% business rate discount for hospitality., leisure, and culture businesses.
Business rates to stay, but there will be relief for green technology investment, and property improvements.
Not directly to do with our industries, but this from Stephen Fry…
12.42: The HGV levy extension is to be extended for a year. This is meant to help supply problems.
