![]() ![]() Lakeland Marketing & Advertising Jobs 7.Deerfield Beach Industrial Maintenance Jobs 7.Orlando Refrigeration Maintenance Jobs 9.North Charleston, South Carolina Jobs 1.Facilities, Industrial Operations Jobs 1.Corporate Compliance, Legal & Risk Management Jobs 1.Admin & Clerical, Legal & Risk Management Jobs 1.Admin & Clerical, Internal Audit Jobs 1.Admin & Clerical, Industrial Operations Jobs 1. ![]() Admin & Clerical, Corporate Compliance Jobs 1.One caveat to the headline figure is that there were more bank holidays in May 2023 than in the same month last year. "With the potential for further interest rate rises and lenders pulling their mortgages and repricing upwards, borrowers are likely to have concerns around affordability," he said.Īcross the UK, 80,020 transactions were recorded last month, which was 3% lower than in April. Those who have to move will do so regardless, but sellers need to "price realistically" to attract any other customers in the coming months, said Jason Tebb, CEO of property search website. "Mortgage upheaval and inflation concerns have meant fewer buyers and more protracted negotiations, which is resulting in fewer transactions," he said. The lack of transactions is a "more accurate" reflection of market health than house prices, according to Jeremy Leaf, a north London estate agent and a former residential chairman of the Royal Institution of Chartered Surveyors. New figures released by HMRC show the number of houses sold in May tumbled by 27% compared with last year. The treasury has been contacted for comment.Įarlier today we reported on a 3.5% fall in house prices with further cuts predicted, in part because sellers are struggling to shift their houses at asking price as buyers face increasing mortgage rates. Wine from hotter countries, which naturally produce stronger wines, will be "penalised most of all", he said.ĭraught products in pubs will not suffer the same fate due to a government scheme that promises their duties will be up to 11p cheaper than for bottled or canned products. And it will damage British business, especially those in the hospitality supply chain, who are still trying to recover from the pandemic," he said.Īlcohol levels in wine cannot be reduced in the same way as beer, he said, because it changes the product. "Alcohol tax rises will only further fuel inflation. This equates to another 10% rise in costs, so when the end of the duty freeze is accounted for too, taxation on the average 75cl bottle of 12.5 abv wine will be 20% higher, according to Simon Stannard, director of policy at the Wine and Spirit Trade Association. Wines will be taxed more the stronger they get, rather than by the volume of liquid as they are under the current system. The challenge for wine producers may be even greater, given the introduction of a new system of calculating alcohol duties on the same day. "With business costs set to soar, it's impossible to see how brewers can carry on exactly as they are whilst still avoiding customers paying over the odds for their beer," said Emma McClarkin, chief executive of the British Beer and Pub Association.Įnding the duty freeze will cost the industry £225m "at an already challenging time", with brewers facing "mounting price increases across supply chains" in the last two years, she said. Taxation on bottled beers and spirits is set to increase by 10%, costing the industry £225m, trade associations have said. Some brewers are reportedly considering reducing the strength of beer to sidestep costs, while there are fears some wines may disappear from the shelves altogether.Īlcohol duty will be unfrozen on 1 August for the first time since the beginning of the pandemic and Chancellor Jeremy Hunt confirmed in March that it will increase in line with inflation. Enjoying a drink in the summer sun may soon become more costly, as brewers and winemakers warn changes to alcohol taxation will increase the price of bottled beers, spirits and wines. ![]()
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