Cost of living: Alcohol now taxed by strength rather than type

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Wine and gin drinkers will have to shell out more from today as alcohol taxes rise.

The shake-up aims to encourage drinkers to cut back by taxing all alcohol based on its strength, rather than the previous categories of wine, beer, spirits and ciders.

The increase will see duty rise by 44p on a bottle of wine however when combined with VAT, the real increase per bottle will be 53p, the Wine and Spirit Trade Association (WSTA) said.

Read more on this here - https://news.sky.com/story/interest-rates-next-bank-of-england-announcement-thursday-12615118

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