Titanic Brewery is cutting the price of its beer following the Chancellor’s decision in last week’s Budget to scrap the Beer Duty Escalator.
Drinkers at the brewery’s seven pubs – including at the Royal Exchange in Stone – will see a 5p reduction in the price of a pint across all Titanic’s own beer from noon on Tuesday 26th March.
The brewery has responded quickly to Chancellor George Osborne’s decision to scrap the Beer Duty Escalator and to take a penny off the price of a pint.
Keith Bott, Managing Director of Titanic Brewery, said: “The Beer Tax Escalator has led to a huge rise in duty over recent years and inevitably some of that had to be passed on to customers. As of 12 noon on Tuesday we will be cutting prices on our own beer by 5p – and we hope other brewers follow suit.
“We recognise that times are hard and are thrilled that our customers have remained loyal during the economic slump. Often companies, in other industries, are accused of putting prices up when taxes raise but not reducing them when the opposite happens. We want to share the good news with our customers.
“Mr Osborne’s constituency is just up the road in Cheshire and maybe he will get off his train from Westminster in Stone, Stafford or Stoke and join us for a pint of locally produced beer.”
As chairman of SIBA (the society of independent brewers), Keith helped to lead the long campaign for the abolishment of the duty escalator.
Titanic Brewery has bucked the economic trend and has grown its pubs from just one to seven in the last six years. But Keith argued that the escalator would stifle further growth and job creation both in Staffordshire and beyond.
He added: “By cancelling the escalator the Government has signalled its support for British brewing and pubs providing the environment in which Titanic can continue to invest in a sustainable business.”