The UK Government has decided to freeze the wine and spirits duty in its latest budget, a move that has been welcomed by the Wine and Spirit Trade Association (WSTA).

It is claimed that the government’s new decision will save the UK wine and spirits industry nearly £247m, which will help re-investment and growth.

The freeze means that there will be no changes in the duty levied on an average priced bottle of still or sparkling wine or spirits bottles with 40% alcohol-by-volume (ABV).

“It is claimed that the government’s new decision will save the UK wine and spirits industry nearly £247m.”

WSTA chief executive Miles Beale said: “We are pleased that the Chancellor has found his festive spirit and listened to the call from the WSTA and its members and has frozen wine and spirit duty.

“He has shown the government is in touch with what consumers want and is supporting an industry proving to be a real asset to British business.

“He has recognised that rebalancing the UK’s excessive duty rates is a win/win for both the Treasury and the wine and spirit trade, not to mention consumers. This decision will be celebrated by millions who will raise a glass this festive season!”

According to WSTA, the wine and spirit industry supports nearly 554,000 British jobs and generates approximately £50bn for the UK economy.