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Industry experts say the VB alcohol content reduction – from 4.9 per cent to 4.8 per cent – could save Foster’s $20 million in beer tax a year.

But the company has assured drinkers the taste of the iconic VB will stay the same.

"It certainly doesn’t affect the taste, which is very important to our VB drinkers," VB spokesman Ben Wicks said.

"The taste will stay exactly the same. Our master brewers have done a lot of work to make sure of that."

The lower-alcohol VB will start appearing in bottle shops from late August.

Mark Bowles, industry analyst at IBISWorld, said the drop in alcohol content would mean a "significant saving" for the brewer.

"Our estimate would be that they could save potentially between $10 million and $20 million," Mr Bowles said.

More conservative estimates put the excise saving at $5 million to $10 million.

Mr Bowles said Foster’s had just under half the Australian beer market, with Lion Nathan the next biggest player at about 30 per cent.

He said beer sales were showing a long-term decline, but overall spending on beer was rising because of a shift towards premium brands.

Mr Wicks said excise savings would be re-invested in the brand, particularly the new VB Midstrength and the popular annual summer promotion featuring collectible figurines.

According to Turning Point alcohol expert Robin Room, the slight drop in the alcohol content of VB would "not make much difference" to alcohol consumption.

Foster’s said its wholesale price rises from next month were based on the Consumer Price Index and an increase in production costs.

AN Opposition MP wants the alcohol content in pre-mixed alcopop drinks cut to 2.5 per cent.

Denis Napthine said the sweet and fizzy drinks were aimed squarely at the youth market but had dangerously high levels of alcohol.

"They’re a spirit and soft-drinking mix, with an alcohol content of 5, 7, and 9 per cent alcohol," Dr Napthine said.

Many of the drinks were laced with vodka, which was tasteless, to make it easier for young people to consume.

Dr Napthine said alcopops, which health groups have expressed concern about, contributed to binge and under-age drinking, and their alcohol content should be drastically reduced.

Health Minister Bronwyn Pike’s spokesman, Tim Pigot, said the Victorian Government would ask the Federal Government what progress was being made on a review of the marketing of alcopops.

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