Here's to ScoMo, he's true blue! The government has found a hell of a headline ahead of the 2018 budget tomorrow with the announcement they'll be cutting an "outdated and ridiculous'' tax on craft breweries. The news, which dropped on Friday, is certainly exciting if you own a craft brewery, but is it really going to deliver the "CHEAP BEER" the headlines have been promising?

The planned change -- which has been a long time coming, and was long campaigned for by Labor's Anthony Albanese -- will remove the extra tax required on kegs which are smaller than 48 litres. Under the new rules, all kegs over 8 litres will be taxed at the same rate, which will help level the playing field between the big breweries and smaller, craft producers. In a statement, the treasurer said this would help "drive competition in a sector currently dominated by large domestic and multinational brewers" and "will likely put downward pressure on prices".