The impact of raising the cost of cheap booze in the UK

Published Apr 19, 2024

Tridge summary

The Scottish Parliament has recently approved a 30% increase in the minimum unit price of alcohol, raising it from 50p to 65p, set to take effect in September. This adjustment, the first since Scotland introduced the minimum unit pricing in 2018, aims to counteract inflation and reduce alcohol addiction rates. The price change will notably raise the cost of a bottle of whisky from £14 to £18.20. While some independent retailers support the government's health initiative, others, including the president of the Federation of Independent Retailers in Scotland, criticize the move as ineffective and a potential cause for increased shoplifting and cross-border shopping, which could undermine the intended public health benefits.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

MSPs have voted to increase the minimum unit price of alcohol by 30%, bringing a bottle of whisky which now costs £14 to £18.20 in Scotland from September. Scotland became the first country in the world to set a minimum price (MUP) for alcohol in 2018. In the six years since, the price per unit of alcohol has been 50p. However, the law was set to be revisited in April this year, and MSPs have now voted to increase the minimum unit pricing in the country. From September, the 50p MUP will be raised to 65p, a move designed to reflect rises in inflation. The new minimum was approved by the Scottish Parliament this week after receiving 88 votes in favour, with 28 against. Minimum unit pricing is calculated using this formula: the price per unit (currently £0.50) x the strength of alcohol (ABV) x the volume in litres. The table below details the increase in cost for different forms of alcohol. Independent retailers have mixed reaction to the increase in minimum unit pricing on alcohol. ...

Source: Thedrinkbusiness