Andrew Turner
Main Page: Andrew Turner (Conservative - Isle of Wight)Department Debates - View all Andrew Turner's debates with the HM Treasury
(11 years, 2 months ago)
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Mr Andrew Turner (Isle of Wight) (Con)
Will my hon. Friend refer also to the number of public houses that have closed over the past five or six years?
Mr Jones
I thank my hon. Friend for that extremely pertinent comment. I will come to that.
In my constituency, the sector accounts for 1,441 jobs, employing 431 young people. It also contributes £33.7 million in gross value added to the local economy. Nationally, the sector adds £19 billion to the UK economy, and it currently contributes £10 billion in taxation to the Treasury. Since the previous Chancellor introduced the beer duty escalator in 2008—my right hon. Friend the present Chancellor continued it in May 2010—beer duty has risen by a staggering 42%. If the planned increase is effected in April following the coming Budget, beer duty will have increased by an eye-watering 50% in five years.