THE price of a bottle of Buckfast is set to increase as a result of the latest UK Budget announcement.

The fortified wine is part of a range of alcoholic drinks facing higher duties with Buckfast in particular facing an increase in tax of 81p per bottle which is currently sold for around £8.50.

There is a system of minimum unit pricing in Scotland which sets the price per unit of alcohol at 50p. However, this is not actually a tax and retailers are able to pocket the extra money.

The system of alcohol duty, which dates back to 1643, has been shaken up by the Chancellor.

Higher-strength alcoholic drinks such as fortified wine, stronger red wine and higher-strength ciders are attracting higher taxes in Rishi Sunak's latest Budget.

However, lower-strength drinks like sparkling wines, fruit ciders and rose will see the tax rate lowered from what they currently are.

Sunak said wines like Champagne and Prosecco were “no longer the preserve of wealthy elites” and their duties would be reduced to the same level as still wines, ending an “irrational” 28% duty premium.

The Budget also sees somewhat of a win for the Scottish whisky industry that has been lobbying against an increase in duty on the spirit.

The retail price of spirits such as vodka and whisky will be broadly unchanged.