Budget brings good news for Gulf retailers
Alcohol prices remain the same
Chancellor George Osbourne's Emergency Budget saw no tax increases on cigarettes, alcohol and fuel, while plans to increase the duty on cider by 10% above inflation will be scrapped from July.
It had been reported that The Treasury was considering repeating the 5% increase in alcohol duty imposed in the March Budget as fears grew that the illegal trade would be further stimulated.
According to The Association of Convenience Stores, the illegal trade in alcohol and cigarettes accounts for more than £5 billion in lost revenue to The Treasury and legitimate businesses.
"This is positive news for many of our operators," explains Keith Jewers, Director, Gulf Retail. "ACS reports suggest that price increases push more consumers into buying their products from illegal sources."
"If any dealers are unclear on what the Emergency Budget means for them, they should contact Gulf Retail or their area rep directly."
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