Ah, gin.
From its health benefits to its ability to show us for who we really are, there’s no point denying that mother’s ruin has a very special place in our hearts.
And, over the past few months, we’ve seen something of a gin renaissance (ginaissance?) in the shops, with a plethora of new flavours, superfood-based, and healing gins hitting the shelves.
However, as the saying goes, there’s no sunshine without rain.
Gin lovers, we’re about to be hit in the pocket by increased alcohol duties.
Consumers already pay a cool £3.3 billion in spirits duty, but current government policy dictates that alcohol duty increases are pegged to inflation.
This means that, if inflation increases by 3% this year, as many experts have forecast, spirits will go up an extra 34p a litre.
Cue a bill of at least £60 million.
Read more: The five health benefits of drinking gin
We’re already going to have to pay an extra 29p per bottle of EU wine thanks to the fall of the pound.
Miles Beale, chief executive of the Wine and Spirit Trade Association, complained that drinkers are already paying a "staggering amount" in duty.
Speaking to The Telegraph, he said: “Unless the government reviews this policy, the rise in inflation will slap a further £60m on spirits consumers.
“And wine consumers could face a double blow if potential duty rises of £120m are added to the impact of the devaluation of the pound, which - together - could cost over £400m this year alone.”
Read more: 14 signs that gin is your one true love
Beale added that the UK wine and spirits trade is worth almost £40 billion, supporting almost 600,000 jobs and making a significant contribution to the UK economy.
“These British jobs will be put at risk by damaging tax rises, unless the Government re-examines its excise duty policy,” he said.
And there we were thinking that 2016 couldn't get any worse. Bottoms up while we can, we guess...
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