The taper rate is the amount of Universal Credit that is withdrawn for every pound a claimant earns through work.Īnd the work allowance - the amount some claimants can earn before the taper kicks in - will be raised by £500 a year. The Chancellor confirmed a cut in the taper rate from 63p to 55p - a much more dramatic cut than the 60p rate that was expected. Universal Credit will be made more generous for around 1.9million working British families, Rishi Sunak said in a budget U-turn. Universal Credit claimants - if they are in work The reforms will come in in February 2023. The changes will also have a heavy impact on the price of popular fortified wines. The duty change will result in a bottle of £7 Hardy’s VR merlot facing an increase of around 5%, with a tax hike of 35p.Ī 75cl bottle of Campo Viejo Rioja Gran Reserva will see a tax rise of roughly 47p, the Treasury said.

Red wine producers and drinkers are a significant loser as the changes have a detrimental effect on wines with strong alcohol levels. Pre-mixed cans of spirits and mixers sold in shops will also largely see lower rates of tax. Lower-strength spirits such as Baileys and Malibu will also benefit, with their tax rates due to reduce by 41p and 50p per bottle respectively. Meanwhile a bottle of Blossom Hill rosé will cost 12p less, going from £8 to £7.88. It means a pint of Stella Artois in a pub will fall around 3p if it costs £3.80 now. The cost of beer and sparking wine will fall but the stronger a drink is, the more it will be taxed. Here are the likely winners and losers from Budget 2021: Winners Drinkers Mr Sunak pledged a major increase in Whitehall budgets, tax cuts for businesses, and investment to create a “new economy” based on high skills and wages following the pandemic.īut Labour leader Sir Keir Starmer, who missed the Budget after testing positive for coronavirus, accused the Chancellor of doing “nothing about the cost-of-living crisis”. Universal Credit claimants who are in work and people who drink certain alcoholic beverages are among those likely to benefit - while drivers and smokers lose out, the Mirror reports. It includes several policies that will give households both more and less money in their pockets. Chancellor Rishi Sunak has delivered his autumn Budget and Spending Review to the House of Commons - but not everyone will be a winner under his plans.

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