"We're having to work harder than ever just to stand still", says Essex brewery ahead of Budget
Mighty Oak Brewery is calling for "reduced duty" in the Autumn Budget
An Essex brewery says they're "having to work harder than ever just to stand still" as they call for change in the Autumn budget.
The Mighty Oak Brewery has been running for 28 years in the heart of Maldon.
John Boyce, who owns the brewery, is calling for support for the industry in the upcoming Autumn Budget, which is to be announced by Chancellor Rachel Reeves at 14:00 today (October 30).
He told us, "We're really concerned about the comments on minimum wage. We can't have an increased minimum wage without increasing the wages of our existing staff. It has a knock on effect.
"We're having to work harder to stand still than we've ever had to do. There's a lot of breweries out there that are struggling even more than we are."
"Anything the government can do to help pubs and breweries would be highly appreciated", says Mr Boyce.
"We'd like to see more support from the government to pubs, they're struggling.
"The last government changed duty: pubs pay slightly less duty on beers from a tap than supermarkets can buy.
"This hasn't aided the pubs at all, and for the owners of small alcohol suppliers like myself, it's made our lives more difficult.
"We've had to invest in more complex software to deal with the dual duty rate.
Alcohol duty is a tax charged at the point of production or importation of drinks of alcoholic strength exceeding 1.2% alcohol by volume. Duty rates differ for beers, ciders, wines, spirits, and other fermented products.
"I'd like them government to reduce VAT on beers and spirits, enabling to sell at a lower price, that would really help the industry", says Mr Boyce.
The Autumn Budget 2024 – the first from the new Labour government – will be delivered today (Wednesday 30 October). It is expected to contain significant tax changes and potentially have a long-lasting impact on businesses in the UK.