Master of Malt Pauses Duty Hike: A Response to Industry Strain and Customer Needs
Master of Malt has announced a postponement of the planned increase in duties across its trading division.
During August, the Master of Malt Trade unit, which caters to both on-premises and retail sales, will not implement the 10.1% increase in duty that was set to begin at the start of the month, coinciding with duty reform actions.
The trade division of Master of Malt emphasized that the beverage industry has already suffered greatly from inflation, experiencing a marked rise in expenses and a decline in many individuals’ available spending.
Justin Petszaft, the founder of Master of Malt, expressed his concern, stating: “In a world where we feel increasingly burdened, we want to ease some of the financial pressures on our customers. As a gesture of goodwill, trade clients purchasing throughout August will find their duty-related concerns slightly alleviated, at least with our company.”
He further stated: ‘Throughout the COVID pandemic, we generated significant funds to assist those facing difficulties in the hospitality industry by donating £1 to Hospitality Action UK for every order.
Other companies, like Hallgarten & Novum Wines, are following suit. They are offering previous duty rates on 148 still wines for orders of five to 100 cases in August, and The Wine Society will absorb increases until October.
