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Budget 2020
Plastic Packaging Tax This will be a new tax that applies to plastic packaging produced in or imported into the UK that does not contain at least 30% recycled plastic. The tax rate will be £200 per tonne of non-compliant plastic packaging. A consultation on the design and implementation of the tax has been issued and the tax is to take effect from April 2022.
Duties Alcohol and tobacco duties
The duty rates remain frozen for beer, spirits, wine and made-wine, still and sparkling cider and perry.
The duty rate on all tobacco products will continue to increase by 2% above RPI inflation. The duty rate on hand-rolling tobacco will increase by a further 4%. These rates will have effect from 11 March 2020. Fuel duty
Fuel duty will be frozen for the 2020/21 tax year.
What They Said...
‘The Budget has addressed the immediate challenges facing the economy, but the Chancellor will have to do more to support businesses as they navigate changes to trading arrangements and the end of the Brexit transition period.’ Dr Adam Marshall, Director General of the British Chambers of Commerce
‘The reality is that this is a Budget that is an admission of failure – an admission that austerity has been a failed experiment.' Jeremy Corbyn, Leader of the Labour Party
‘In deeply challenging times, the Chancellor has worked against the clock to deliver two Budgets in one: a first for national resilience today and a second for economic ambition tomorrow.’ Dame Carolyn Fairbairn, Director General of the Confederation of British Industry
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