It has been reported that an extra excise will be added onto cigarettes, beer, cider and a standard measure of spirits in the upcoming Budget. The new levy will come into effect on Tuesday after it emerged that 10 cent could be placed on the price of a drink.
Minister for finance Michael Noonan is expected to push ahead and place the extra excise duty on cigarettes, beer, cider and a standard measure of spirits.
Meanwhile if you happen to be fond to a glass of wine it could cost a quite bit more, as it has emerged 50 cent could be added to the price of a bottle.
However it is thought that petrol and diesel prices will stay the same.
The news will come as a blow to publicans, as they say that more than half of off-licences will fold in 2015 if crippling excise duty on booze is increased in the Budget. This statistic is compiled by the National Off-Licence Association who made the grim prediction as part of its 2015 pre- Budget Submission.
The Association has strongly urged the Taoiseach Enda Kenny to reverse the excise duties placed upon alcohol within the previous two Budget’s. They also want the government to put an end to the sale of below-cost alcohol. Chairwoman of the association Evelyn Jones has said: “The independent off-licence industry has lost 3,000 jobs since 2008.