Was anybody watching share prices of fizzy drink companies during Osborne’s Budget statement?

George Osborne’s budget has provided riches to the nation – albeit, alas, only in terms of comedy. Sort of ‘gallows’ humour.

Yesterday evening I caught part of a documentary on Barack Obama, and it mentioned a televised speech about the US economy that was undermined when TV executives put ticker-tape text along the bottom of the screen showing share prices plummeting.

Somebody here in the UK was also watching share prices when George Osborne announced his sugar tax.

Here’s what happened to Scottish firm AG Barr, makers of Irn-Bru:

160317barrshareprice

Perhaps Osborne is a secret Scottish Nationalist, and actually intended to give the people of that country another excuse to secede from the Union?

Other soft drinks firms were also hit – and they don’t even have the possible option of leaving:

160317softdrinkshares

AG Barr has released a statement saying it has already reduced sugar levels in its drinks.

The implication is that the drop in its share price was unfair, and the company wanted to complain to the Chancellor for victimising it.

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8 thoughts on “Was anybody watching share prices of fizzy drink companies during Osborne’s Budget statement?

  1. David

    Is our George Gideon going into his last phase, the reverse Midas phase? Not that he ever was a Midas, but people, guided by the tory press, thought he was.

  2. Jean Casale

    I have been thinking about sugar, since it was announced that there would be a sugar tax; and I wonder if the type of sugar intake has anything to do with the degree of diabetes and obesity.

    I found the following which gives food for thought….

    Pure cane sugar is non-GMO. Imperial Sugar does not use genetically modified plants in any of our pure cane sugar products. Beet sugar can be derived from genetically modified plants. The U.S. does not require labels to designate whether the sugar is derived from sugar cane or beets. If you are concerned about avoiding beet sugar, be sure to look for “Pure Cane Sugar” on the package.

    Any thoughts?

  3. Terry Davies

    there is sugar in other good stuffs too. can see those selling drinks will feel victimised by osborne during his budget speech.

  4. wildswimmerpete

    It’s not sugar but an excuse, it’s a Fizzy Drink Tax – GidIdiot’s swipe at the lower orders. I doubt there’s a “sugar tax” on fizzy champagne. The Fizzy Drink Tax also applies to carbonated mineral water as well as such beverages as Diet Coke or No Added Sugar Irn Bru – none of which have any added sugar. Get one over GidIdiot and use a Sodastream to make your own. You can use any decent cordial.

  5. Chris

    This is precisely the issue that will be realised through TTIP agreements. Government makes policy change on public health grounds that is linked to financial impact on a corporate entity….. Corporate entity sues government…..

    1. Mike Sivier Post author

      Trouble is, if we quit the EU, Cameron will be able to push through his own, far more pro-corporate agreement.

      1. Terry Davies

        human rights will be fought for after tribunals and court cases if we leave Europe. justice will be only available to the wealthy. Brexit is therefore not an option.

Comments are closed.