The Chancellor Rachel Reeves has unveiled her financial plans for Britain’s economy in the first Labour budget in 14 years. Government borrowing is set to reach £127 billion, and tax revenue hikes of £40 billion.
Mike Salem, the UK Country Associate for the Consumer Choice Center (CCC), has reacted to Reeves’ Budget.
Salem said, “Reducing the price of a pint by 1p does not show you’re remotely in touch with consumers. It’s like a bad joke, one that does not consider the struggles we’ve had with soaring costs of living in recent years.”
Salem also criticised increasing tax on non-draught alcoholic drinks and soft drinks.
Additionally, the Chancellor introduced a tax on liquid vape bottles, a measure which sends the wrong message to smokers trying to quit. As a result, Reeves had to introduce in tandem a one-off increase on the tobacco levy to ensure vaping is still cheaper than smoking. This comes on top of increasing tax on tobacco by 2% above inflation, 10% for hand-rolling tobacco, which punishes the worse off who smoke.
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