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Monday, June 30, 2008

Alcohol prices set to rise as tax increases

Tuesday July 01, 2008
By Imogen Neale

A quiet drink with mates will be more expensive from today as excise taxes on alcohol increase almost 3.5 per cent.

Excise tax, sometimes called excise duty, is a type of tax charged on goods produced within New Zealand.

DB Breweries, which produces Tui, Monteith's and Heineken, will raise prices by an average of 5.5 per cent for a pack of beer and 5.3 per cent for tap beer.

Lion Nathan, producer of Speights, Lion Red, Mac's and Steinlager beer, will also raise prices by an average of 5.5 per cent.

Spirits and ready-to-drink beverages will also reportedly rise, by around 5.3 per cent.

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