Alcoholic Drinks: Excise Duties

(asked on 18th October 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will ask the Office for Budget Responsibility to review its (a) price elasticity of demand and (b) other forecasting methodology for alcohol duty revenues.


Answered by
James Murray Portrait
James Murray
Exchequer Secretary (HM Treasury)
This question was answered on 28th October 2024

The OBR regularly reviews its forecasting methodology. Its forecast is informed by economic factors including real household consumption and underlying trends in alcohol consumption.

The OBR published updated price elasticities for alcohol in July 2024.

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