Treasurer Joe Hockey's tough budget driving consumers away from drink rather than to it

By Eli Greenblat
Updated July 25 2014 - 7:13am, first published 1:15am
Sales of beer have fallen flat since the federal budget. Photo:  Arsineh Houspian
Sales of beer have fallen flat since the federal budget. Photo: Arsineh Houspian

SABMiller, the world's second-biggest brewer that paid $12.3 billion for Foster's in 2011, has blamed the consumer fallout from Treasurer Joe Hockey’s severe federal budget and heavy discounting on international premium brands for a sharp dive in beer revenue and volumes at its Australian arm.