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It's an unlawful proposal designed to appease puritans in spite of none of the evidence justifying it.
The financial argument doesn't hold water; alcohol duty already covers the most extreme estimates of health costs more than four times over and if it didn't, the answer would be to increase alcohol duty so that the revenue goes to the state, not to fix a minimum price so the increase goes to the seller.
Similarly, the "binge drinking epidemic" hysteria doesn't stand up to scrutiny. Alcohol consumption has actually been falling.
It's a poorly designed solution to a non-existent problem. Thankfully, as it is illegal under EU law, if it does ever make it in to effect, it will not last long.
5 months, 3 weeks ago on News: UK Bans Cheap Alcohol to Reduce Binge Drinking