George Osborne’s announcement today of a 1p cut in Beer Duty and the scrapping of the Escalator brings much needed relief to the ever squeezed pub and brewing sector. Thousands of jobs were threatened by the planned 6p a pint increase, as well as hitting millions of consumers in the pocket.

James Shorthouse, Head of Licensed & Leisure at Colliers International, commented: “After months of lobbying, the Chancellor has finally listened to the united voice of the industry, consumers and the media to come up with a welcome measure of good news in these difficult times.

“The decision to raise the Tax Personal Allowance to £10,000 will also help the lower paid in particular, for whom a couple of pints in their local pub is one of life’s few affordable luxuries.”