In exciting news as we approach the weekend, Prime Minister Anthony Albanese is reportedly set to propose a plan to suspend taxes on beer. Cheers to that!

This initiative is part of the Prime Minister's commitment to address the cost of living crisis (one beer at a time), with the Labor Government preparing to initiate the tax cap in parliament today. 

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Albanese Promises To Freeze Tax On Tap Beer For Two Years If Re-Elected

The proposal aims to stabilize the price of a schooner (or realistically, a pint) by introducing tariff proposals to halt the excise and customs duty on beer, effective from August 1.

Hey, save some for us! (Image source: Matt King/Getty Images)

This means the relevant legislation will be modified to temporarily halt the indexation on excise and customs duty. 

Wondering how long 'temporarily' means? Once confirmed through primary legislation expected in the coming months, the beer tax cap will reportedly last for two years.

This provides ample opportunity to enjoy a cold, tax-free drink, especially as the cost of schooners rises to as much as $15 in major cities. In other words, it's quite an expense.

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Taxes Have Raised The Price Of Yr Precious Froth & That’s A Bloody Outrage, That Is

But there's a small caveat. 

This measure only applies to beers served on tap in licensed hospitality venues, meaning only the drinks from your local pub will benefit from the tax freeze.

Unfortunately for those planning pre-drinks, beer and alcohol prices at local bottle shops are excluded from the tax freeze and are likely to keep climbing. 

Although Albanese previously mentioned that the government was “not considering” beer tax caps, he has recently highlighted the initiative in a statement to news.com.au. 

Albanese said the tax freeze was a “common sense measure”. (Image source: Hilary Wardhaugh/Getty Images)

“Continuing to provide cost of living relief to Australians is our top priority,” the prime minister stated. 

He further emphasized the benefit of this move for both beer enthusiasts and pub owners, who have voiced concerns over rising prices deterring customers.

“Freezing the excise on draught beer is a sensible measure that benefits beer drinkers, brewers, and pubs,” Albanese remarked. 

This is one of several election promises the PM is working to fulfill since winning the election, including his HECS debt reduction proposal which was presented in parliament earlier this week. 

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Hang On: Did Anthony Albanese Scull A Beer At A Gang Of Youths Concert In Sydney?

Perhaps his promise to freeze the beer tax was inevitable, considering this is the man who enthusiastically enjoyed a cold one at a Gang of Youths concert some time ago.

Cheers!

Lead images: Hilary Wardhaugh/Getty Images and Brook Mitchell/Getty Images)