The £10 pint explains the rise of Reform
From our UK edition
I bought my first pint of bitter, in a pub in Slough, in 1972. It cost 12 pence. The Bank of England inflation calculator tells me that is the equivalent of £1.45 today. Yet a pint now sells for £10 in London. What went wrong? Many factors, of which the first was Britain’s entry into the EEC on 1 January 1973. We were eventually made to ‘harmonise’ our alcohol duties with our partners, leading to a drop in the duty on wine and a rise in that on beer, to reflect French cultural preferences. The most recent shock has been Rachel Reeves’s attack on small businesses with employer NI rises, punitive workers’ rights, ever-higher minimum wage etc. In the 1970s, the price of a pint, like the cost of a packet of cigarettes, was a major issue of concern in each year’s Budget.