Budget 2015: Beer duty is down – save a penny on a pint
- Credit: PA Wire/Press Association Images
Live updates and reaction from chancellor George Osborne’s budget this afternoon.
1.24pm: Beer duty is being cut for the third consecutive year. It means that a penny will be coming off the price of a pint. Cider and Scotch whisky duty comes down by two per cent. Wine and tobacco duty remains frozen.
Mr Osborne says: “More pubs saved, jobs created, families supported – and a penny off a pint for the third year in a row.”
1.02pm: George Osborne says: “I said we would all be in this together and here is the proof. Compared to five years ago inequality is lower, child poverty is down, youth unemployment is down, pensioner poverty is at its lowest level ever, the gender pay gap has never been smaller, payday loans are capped and zero hours contracts regulated.”
12.47pm: George Osborne says living standards have risen over the past five years with households better off by an average of £900
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12.39pm: The Office for Budget Responsibilitty (OBR) confirms Britain’s 2014 growth 2.6 per cent. George Osborne said it was faster than any other major advanced economy in the world last year”.
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