Captain Darling slipped another 10p on a bottle of wine in the Budget, taking the duty, and Vat on the duty, to £2. He also extended his ‘duty escalator’ of around 5% extra each year until 2015. On a £4.75 bottle of wine – higher than the average spend – over 50% is trousered by the government even now. By 2015, if Labour are returned to office this summer, duty will be over £2.50 per bottle as the escalator allows for duty rates to increase annually by 2% above inflation.
This is sent to friends on our mailing list.