Half the price of a 12-pack of beer will be made up of tax after the Government announced the second largest “beer tax” increase in 30 years.

Alcohol excise rates, which apply to domestically produced alcohol as well as duty on imported beer, wine and spirits, will increase by 6.6% on Saturday.

This hike follows a record 6.9% increase in 2022 and is expected to cost consumers an extra $86 million a year, including $28.9 million for beer drinkers alone.

This government is also bumping up taxes on petrol on Saturday.