Alcoholic Drinks: Excise Duties
Commons · Question 9952 · Tabled 18 Oct 2024 · Treasury · Official record
Answered 28 Oct 2024
Question
Asked by Charlotte Nichols
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.
Answer
Answered by James Murray, 28 Oct 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.