Budget Live Blog – in a nutshell
On the plus side:
Cider tax rise of 10 per cent, proposed by Labour scrapped.
Duty on all alcohol frozen.
National Insurance allowances for small businesses, including food and drink, increased.
On the negative side:
VAT is rising to 20 per cent, which will increase the cost of fuel and therefore food and drink costs, because of the increased cost of haulage.