How exciting to read that kind of story in an Australian newspaper. The decision all those years ago to index excise rates to rises in consumer prices took all the fund out of budget headline writing. But now Shane Wright in the Sydney Morning Herald has brought back the fun with the prediction that beer, wine and brandy drinkers are to be targeted by the Federal Government as part of a $3 billion budget swoop on so-called “sin taxes”.
I must say the story has the ring of truth because the sense of payback is alive and well among those dreaded kill joys in the Treasury who would like nothing better than to get their revenge on the spirits industry for persuading the Senate to knock back the alcopops proposal. As I have written before, that victory will prove to have been pyrrhic.