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Share Price Information for C&C Group (CCR)

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Share Price: 168.00
Bid: 166.20
Ask: 167.00
Change: 1.80 (1.08%)
Spread: 0.80 (0.481%)
Open: 167.00
High: 169.00
Low: 166.00
Prev. Close: 166.20
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UPDATE 1-Irish government backs plan for minimum alcohol pricing from 2022

Tue, 04th May 2021 20:12

(Adds background, indication of cost of products under new
rules)

DUBLIN, May 4 (Reuters) - The Irish government has signed
off on a long-delayed plan to introduce Minimum Unit Pricing for
alcohol from the start of next year in a bid to reduce alcohol
abuse and health spending, a minister announced on Tuesday.

"I am delighted to learn that the Cabinet have just approved
my recommendation ... on the need commence Minimum Unit Pricing
in Ireland," Minister of State for Health Frank Feighan said in
a Twitter post following a Cabinet meeting.

"The lead in time for this measure will be January 2022."

The law means a minimum price for alcohol of 10 cents per
gram.

A 500ml can of lager would cost a minimum of 1.70 euros,
more than double what some supermarkets are currently charging
for their cheapest brands. A 700ml bottle of gin would cost at
least 22.09 euros, compared to under 14 euros at some
supermarkets today.

The price rises are governed by a law that was passed in
2018, but the government decided to wait until a similar measure
was put in place in Northern Ireland before implementing it.

The Irish government decided to proceed alone after Northern
Ireland's devolved government indicated it would not set a
minimum price before elections due next year.

Feighan said the experience of Scotland, which registered
falls in alcohol consumption following the introduction of a
similar measure in 2018, helped convince the government to
introduce the measure.
(Reporting by Conor Humphries; Editing by Giles Elgood)

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