Soft Drinks: Taxation

HM Treasury written question – answered on 27th April 2017.

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Photo of Royston Smith Royston Smith Conservative, Southampton, Itchen

To ask Mr Chancellor of the Exchequer, how much has been raised from the soft drinks industry levy in the last 12 months; and what estimate he has made of likely revenue from that levy in the next three years.

Photo of Jane Ellison Jane Ellison The Financial Secretary to the Treasury

The Soft Drinks Industry Levy comes into force in April 2018, and as such has raised no revenue in the last 12 months.

At the Budget in March 2017, the Chancellor announced that the levy is now forecast to raise approximately £385m per annum from April 2018, which is less than the £520m originally forecast due to strong reformulation responses from the industry. This is a central forecast independently verified by the Office for Budget Responsibility (OBR).

The Government will still fund the Department for Education’s budget with the £1 billion that the levy was originally expected to raise over this Parliament, including money to double the primary schools sports premium and deliver additional funding for school breakfast clubs, and £415 million to be invested in a new healthy pupils capital programme.

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