The Chancellor said in her Budget announcement that the government would cut draught duty by 1.7%, which she said means "a penny off a pint in the pub".Ms Reeves also announced 40% relief on business rates for retail, hospitality and leisure businesses from 2025/26.JD Wetherspoon's share price rose 6% on the start of the day during the Chancellor's Budget speech, before falling again afterwards.The company's share price is still down over 5% over the past five days.
Announcing the tax cut, the Chancellor told the Commons: "I can confirm that alcohol duty rates on non-draught products will increase in line with RPI from February next year, but nearly two-thirds of alcoholic drinks sold in pubs are served on draught."So today, instead of uprating these products in line with inflation, I am cutting draught duty by 1.7%, which means a penny off a pint in the pub.