spiritsNEWS February 2016

WSTA and SWA call for a further 2% duty cut on spirits in the UK

In March 2014, excise duty on spirits was frozen after years of regular increases.  In March 2015, the duty on spirits was cut by 2% (UK spirits duty is still the 4th highest in the EU – 76% of the price paid on a bottle of spirit is tax). 

 

The associations are asking the Government for a further 2% cut in the next budget which is to be voted soon.  They brought evidence to the UK Government that the last cut was not only popular, but led to greater revenue for the Exchequer, more jobs, greater investment by the industry and a better deal for consumers.  Indeed, between April and December 2015, spirits revenue went up by 4% from £2.4bn to nearly £2.5bn.  In Scotland, the whisky industry currently provides more than 40,000 jobs in the UK, and welcomed seven new distilleries last year with plans to open between 30 and 40 new establishments in future.

 

Let’s hope for a positive decision on 16 March 2016 that will rebuild confidence, create jobs and grow exports.

STAY CONNECTED: Keep up-to-date with spiritsEUROPE’s activities via our Twitter & Newsletter
Subscribe