Government goes ahead with ‘Milkshake-Tax’ to tackle obesity

UK shoppers will soon have to pay more for their cold lattes and other sugary milk drinks, as Chancellor seeks to close the ‘loophole’ in the sugar tax, confirmed in November’s Budget today. Pre-packed milkshakes and other dairy-based products will soon be hit by the Soft Drinks Industry Levy (SDIL) tax, which was introduced by…

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Fuel duty frozen until 2026

The government will freeze the 5 pence per litre fuel duty until September 2026, when it will be replaced by a 3 pence per mile for electric cars from 2028. The change will cost £2.4bn next year and £900mn annually thereafter, according to the Office for Budget Responsibility. The move, alongside the Fuel Finder scheme…

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Britain’s productivity crisis to “cost £16 billion” by end of decade 

The Office for Budget Responsibility lowered Britain’s productivity forecasts from 1.3% to 1% in the latest Budget, a downgrade which could cut £16bn from the economy by 2030. Productivity growth for 2025 has been downgraded by 0.3 percentage points from the OBR’s March report to 1.0 per cent, implying slower supply-side expansion and weaker revenue…

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