AUS: RTD tax rise crashes after Senate vote
Australia's tax hike on RTDs lays in tatters today (18 March), after a vote on the increase in the country's Senate.
In April last year, the Government introduced a 70% rise in the tax rate of RTDs, in an attempt to improve public health and cut young peoples' alcohol consumption.
But a vote in the Senate yesterday saw the move defeated, with 32 votes against beating the 31 in favour.
Distillers are now expected to receive in the region of A$300m (US$203.4m) after the defeat, with the price of RTDs expected to drop to their previous level, falling by between A$0.30 and A$1.30 per bottle.
In a report from Australian Associated Press, a spokesperson for the country's Distilled Spirits Industry Council said: "The senators who made the right decision in rejecting the Government's tax grab on RTDs realised that a tax was not a solution to problem drinking."
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