Here’s how much wine prices could go up by this weekend
Here’s how much wine prices could go up by this weekend
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The end of Dry January is in sight, but what’s this? The price of wine is about to go up. That’s because a temporary tax break is coming to an end this Saturday and the price is highly likely to be passed on to you. That means, some wines will be going up by £1 overnight on bottles of wine with an ABV between 11.5% and 14.5%.
The measure was put into place in August 2023 after Rishi Sunak made reforms to alcohol duty based on strength. But it ends on February 1, meaning you’ll be paying more for your malbec, shiraz or cabernet sauvignons. The size of the increase will depend on the precise alcohol content of the drink as separate tax bands will apply for every 0.1 percentage point difference.
Wines from hotter climates such as Australia and Spain will feel the biggest impact, as they tend to have a higher alcohol content. At the time the changes were announced, producers warned the winemaking process is ‘less predictable than that of beer or spirits’, and ABV levels can vary ‘between vintages, and sometimes within them’.
As a result, the new tax calculations would make pricing significantly more complex than before, according to the consultation. Ahead of the changes this weekend, wine sellers have warned their industry is facing ‘death by a thousand cuts’, while The Wine Society suggested it had become ‘a target for legislators’, the Times reported.
