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.”
Exclusive Interview with Paul McDonagh owner of Bon Accord: Glasgow Whisky Bar
Published Date: 16th February 2019
It’s a pub that I have been into many times in the past, even before my passion for whisky took over. So, when I got the opportunity to meet the owner of “Bon Accord”, Paul McDonagh, I jumped at the chance. Read more
100,000 bottles of rare whisky sold at UK auction in 2018 - Value of rare whisky bottles sold at UK auction exceeds £40m
Published Date: 8th February 2019
Rare Whisky 101 co-founders Andy Simpson and David Robertson
The UK’s rare whisky auction market has exceeded sales of more than 100,000 bottles of rare whisky in a single year for the first time as global demand accelerates. Read more
New Irish Whiskey With A French Connection Writers' Tears Copper Pot Deau XO Cognac Cask Finish
Published Date: 6th February 2019
Carlow, Ireland: 5 February, 2019: Walsh Whiskey has released Writers’ Tears Copper Pot - Deau XO Cognac Cask Finish, a super-premium edition of its universally popular Writers’ Tears Copper Pot Irish whiskey. It is the fourth expression released under the Writers’ Tears range. Read more
Stars align for launch of Littlemill 40 Year Old Celestial Edition
Published Date: 5th February 2019
Loch Lomond Group has launched the Littlemill 40 Year Old Celestial Edition (46.8% ABV) in the UK, the oldest expression ever to be released from the now lost Littlemill distillery. Read more