http://uk.finance.yahoo.com/news/pou...105936646.html George Osborne might have just taken penny off beer duty, but that’s small change compared with the deals set to be offered by the new PoundPub chain.

Taking on the lessons of budget air travel and discounters like Poundland and 99p Stores, one entrepreneur is now launching a stripped down watering hole: PoundPub.

“The idea is to offer a no-frills, value for money pub. We will be offering a half-pint of Fosters for £1 with a pint £1.50. But we will also have your non-alcoholic drinks like Becks Blue for £1 a bottle. We are aiming to have three cask ales on with prices upwards of £1.50 a pint,” said Mike Wardell, a director at Here for Your Hospitality which owns the premises.