Alcohol consumption in 21 st -century Britain is of significant interest to government, media and academics. Some have referred to a 'new culture of intoxication', fostered by the drinks industry, and enabled by a neoliberal policymaking context. This article argues that the 'carnivalesque' is a better concept through which to understand alcohol's place in British society today, in terms of production, regulation and consumption. The concept of the carnivalesque highlights how UK alcohol policy, though neoliberal, is located in a historical and moral context. It is also illuminates the ambivalence in drinkers' relationship with the contemporary night-time economy. In this way, productive avenues are opened for understanding drinking behaviour in today's Britain, considering what elements of this might be deemed problematic and why, and developing constructive regulatory policies.