If I could choose whatever I wanted, I would serve Krug Rosé at my own Christmas gatherings. I like a handful of other champagnes just as much, but Krug Rosé makes a statement. But this year, even more than usual, it’s a case of dream on. Like everybody else, I’m downsizing in terms of outlay, but I still intend my festivities to go off with a bang. So, the drinks below are aimed at all tastes, but with value in mind.

PROSECCO

Sacchetto Prosecco Colli Trevigiani, £6.99 Frizzante (semi-sparkling), with lightly yeasty, fresh pear flavours — and a budget-friendly price (The Real Wine Company, 01753 885619).

Le Colture Prosecco Brut, £8.79 Elegant and dry with an apple and peach flavour (Corney & Barrow, 020 7265 2470).

Tesco Finest Prosecco di Valdobbiadene, £8.99 Apple-scented, crisp, well-balanced (Tesco).

RED, WHITE AND PINK FIZZ

Autentico Lambrusco Reggiano, £7.49 Real red Lambrusco — a great party fizz (Marks & Spencer).

Prestige Cava, £6.99/£5 Crisp, sweet apple flavours with a herbal freshness; dry but not too dry (Marks & Spencer, £5 when you buy two).

Langlois Crémant de Loire, £11.99/£7.99 Stylish floral, spicy aromas; dry and medium- bodied (Majestic, £7.99 when you buy two).

Vitteaut-Alberti Crémant de Bourgogne Rosé, £11.50 Almost too good to share: soft, dry and finely textured (Stone, Vine & Sun, 01962 712351).

BARGAIN BASEMENT CHAMPAGNE

Duval-Leroy Fleur de Champagne, £16.99 This delicate, crisp, floral champagne is down from its usual £25.99 from December 27 to January 6 (Waitrose).

Jacquart Brut Champagne, £16.99 Lightly toasty, fruity and approachable; down from £23.99 until December 30 (Somerfield).

Veuve Monsigny Champagne, £9.99 Easy-going nutty, apply flavours; soft yet crisp. Nobody can be making any money out of this (Aldi).

CIDER

Waitrose Vintage English Cider, £1.59 for 50cl Top-quality, intensely flavoured, powerful dry cider from Herefordshire; 7.3% abv (Waitrose).

Applewood Cider, £1.69 a litre Medium-dry, fruity oak-aged cider from the West Country; 6% abv (Tesco and Sainsbury’s).

BEER

Tripel Karmeliet, £1.79 for 33cl Winner of three titles at this year’s World Beer Awards, including World’s Best Ale, this is an Abbey-style Flemish beer made from wheat, oats and barley. It has a fresh, nutty, apple and banana nose with toffee, cream, orange and ginger on the palate; 8.4% abv (Waitrose).

Brakspear English Pale Ale, £1.49 for 50cl Quintessential, crowd-pleasing English ale — full and rounded with smoky, hoppy, orange flavours; 4.5% abv (Morrisons and Booths).

Asahi Super Dry, £3.98-£4.19 for 4 x 33cl Fashionable Japanese brand brewed in Kent by Shepherd Neame. Ultra-refreshing, crisp and light-bodied; 5% abv (Sainsbury’s; Waitrose).

SPIRITS

Skyy Vodka, £9.89 Made from filtered, 100% pure California water, distilled four times and put through a three- stage filtration — all with the aim of producing the purest possible vodka (Waitrose; reverts to £14.99 after January 6).

Sagatiba Cachaça, £14.49-£15.49 (reduced to £11.49 at Waitrose until January 6) A caipirinha is the ideal, fuss-free, festive cocktail. All you need is limes, sugar, ice and your cachaça (Tesco, Waitrose, Oddbins).

Zubrowka Bison Grass Vodka, £15.99 Polish vodka with a distinctive herbal note. Put it in a pitcher with ice and decent-quality apple juice and you’ve got a tatanka (Waitrose, Tesco, Sainsbury’s).

CROWD-PLEASING WHITES

2007 Asda Argentinian Torrontes, £4.12 Medium-bodied, flowery white with a spicy, fruity palate and a sweet-lemon finish (Asda).

2007 La Dolomie Pinot Grigio, £3.99 Most sub-fiver pinot grigio has the character of tap water, but this has flavour: lime, apple and minerals (Aldi; reverts to £4.99 after Christmas).

2007 Bushland Single Estate Chardonnay, £3.99 Oak-matured Australian chardonnay with fresh, bright fruit (Aldi; reverts to £4.49 after Christmas).

CROWD-PLEASING REDS

2007 Merlot Vin de Pays de la Cité de Carcassonne, £3.99 Soft, blackcurranty fruit flavour and a clean dry finish (Sainsbury’s).

2007 Popolino Rosso, £4.29 Fresh Sicilian red with cherries and witch hazel (Marks & Spencer).

2007 Côtes du Rhône, £4.49 Well-rounded young Rhône brimming with juicy, ripe, spiced-plum fruit (Marks & Spencer).

AND FOR THE MORNING AFTER THE NIGHT BEFORE . . .

Mulberry Fair, £3.29 per litre There are two flavours of these delicious new mulberry-juice drinks: mulberry and sanguinello orange and mulberry and limonera pear. You just have to decide if you need perking up with orange or soothing with pear (Waitrose, Selfridges).

Times Recommends

• Gordon Brown’s favourite pud
• Five-spice butternut soup
• How to make popcorn and crisps