Spring Budget 2023: How will alcohol and cigarette prices change?

The Chancellor is expected to announce a raft of new measures in what he has described as his "back-to-work" budget for Britain.

The budget is expected to tackle economic inactivity in the over-50s, the long-term disabled and benefit claimants with more policies to be announced for tax on certain items.

This new budget comes amid criticism from the Labour Party, which claims the Government is "following our lead".

"On Wednesday you will hear me put together a very comprehensive package of measures to break down the barriers to work.”

Chancellor @Jeremy_Hunt speaks to @bbclaurak about the Budget & the government's plans to help more people into employment across the UK. pic.twitter.com/D6zeyAFp8h

— HM Treasury (@hmtreasury) March 12, 2023

However, the Government say the 'back-to-work' budget will help "break down" barriers preventing people from entering the workforce.

With all that said, here are the changes that are expected to be announced for duty on cigarettes and alcohol this Wednesday.

How could prices change for cigarettes and alcohol in the Spring Budget of 2023?

The Government is expected to announce changes to the price of cigarettes with the price of a 20-pack set to rise by £1.15, in line with the Retail Price Index, according to the Mirror.

The price of alcoholic beverages could also change with a new system to be announced by Jeremy Hunt.

Under the current system, alcohol duty is added to beer, cider, spirits and wine individually, meaning these are all at differing rates.

In the new system, drinks could be taxed for how much alcohol they have in them, though the exact amount these will cost is yet to be announced.

The new policy is likely to be implemented in the summer.

The Spring Budget 2023 will be available to watch on BBC Two via Politics Live from 12:30 pm.