Scotch Whisky industry meets with Treasury Minister on 76% tax burden :: SWA makes case for 2% excise cut in March Budget :: Last year’s cut contributed to £96m increase in spirits revenue for Treasury :: 3rd February, 2016
The Scotch Whisky industry this week met with the Treasury in advance of the UK Budget on 16 March to put its case for a 2% cut in spirits duty.
Representatives from the Scotch Whisky Association (SWA) met Treasury Exchequer Secretary Damian Hinds MP yesterday afternoon (2 February) and discussed the pressures on the industry caused by the fact that 76% of the price of an average bottle of Scotch goes in tax.
While the SWA welcomed the Chancellor’s decision to cut duty by 2% in last year’s Budget, it said more has to be done to support the industry. The SWA wants to see ‘Fair Tax For Whisky’ and has issued a call to action to ‘Stand up for Scotch’.
It also discussed the benefits to the Treasury of a reduction in very high excise rates. Last year’s spirits duty cut actually helped boost tax receipts on spirits by £96 million between April and December, compared to the same period in 2014.
In its Budget submission to the Treasury, the SWA set out how unfair the current system is on Scotch Whisky – a great Scottish and British industry. On the same amount of alcohol, Scotch drinkers pay 51% more duty than beer drinkers in the UK and 27% more than wine drinkers. And, when polled, three quarters of the British public said duty on Scotch should be cut.*
David Frost, chief executive of the Scotch Whisky Association, said:
“We had a constructive discussion with the Exchequer Secretary to the Treasury, highlighting the significant increase in Government revenues this year – nearly £100m – as a result of the spirits duty cut in March, as well as the boost that decision gave to distillers, large and small. We hope the Government will build on last year’s decision by once again cutting excise by 2% and helping to reduce from the current onerous 76% the tax take on an average priced bottle of Scotch. We would like to see fair tax for whisky and we’re asking the government to stand up for Scotch.
“We explained how a reduction in excise in next month’s Budget would support public finances, promote investment and jobs across the UK and continue the progress made towards fairer tax for one of the UK’s most iconic and successful industries. In short, when unnecessarily heavy tax is cut, revenues actually go up, and consumer and industry confidence is boosted.”
<< Back to all the latest whisky news brought to you by Planet Whiskies
Distillery of the Month: September 2024
Tomintoul Distillery Tour
Planet Whiskies had a fantastic trip up to the Speyside Whisky region of Scotland in February 2024 to visit Angus Dundee Distillers Tomintoul Distillery within the Cairngorms National Park. Then, after the distillery tour and tasting, which was hosted by Iain Forteath, the master blender of Tomintoul, our press group travelled and stayed the night at the recently bought country home of Tomintoul House in the Aultmore Estate (previously called Aultmore House). Planet Whiskies has made the Tomintoul Distillery, Distillery of the Month for both March/April 2024. Read more Planet Whiskies Tomintoul Distillery Tour
Distillery of the Month: February 2024
Bushmills Distillery Tour
Planet Whiskies visited the new Bushmills Distillery in Northern Ireland on the 25th and 26th of September. Read our review of the experience of Bushmills and Northern Ireland at Planet Whiskies tour of Bushmills and Northern Ireland
You can also read the whole section about Bushmills Distillery at Bushmills Distillery Information on Planet Whiskies... So Bushmills was Planet Whiskies Distillery of the Month title for January/February 2024
Drams Delivered To Your Door
Drams Delivered To Your Door - The World’s Biggest Whisky Club Drops New Monthly Subscription Service
Whisky enthusiasts can now take their passion to the next level and have exceptional cask strength single malt whiskies delivered to their doors every month thanks to The Scotch Malt Whisky Society's new 'Drop & Dram' subscription service.
Click for more details
Whisky Tasting Sets
Advertisement
Stay Connected
Get Newsletter
Subscribe to our newsletter to get latest news, popular news and exclusive updates.