Price of wine and spirits set to skyrocket as new tax introduced

The price of wine is set to increase, with the WSTA warning that businesses will be affected Wine and spirits could see a price boost from Tuesday following a shake-up of the way alcoholic drinks are taxed to discourage boozing. The Prime Minister has insisted the changes will benefit businesses and consumers. The new system, which was first set out by then-chancellor Rishi Sunak in 2021, aims to encourage drinkers to cut back by taxing all alcohol based on its strength. This is a shift from the previous categories of wine, beer, spirits, and ciders. He described the overhaul as “the most radical simplification of alcohol duties for over 140 years”, and said it had been enabled by Brexit. Duty will increase overall and most wines and spirits will increase in price – while lower alcohol drinks and sparkling wine will see decreases.