Wine prices are set to increase as UK retailers brace for significant changes to wine taxation starting February 2025. Businesses warn that the new system will require six-figure investments to handle the administrative burden, with potential annual costs also running into similar sums.
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James Bayley delves into the latest data to get to the heart of the shifting trends across the wine trade in the UK.
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The Scotch Whisky Association (SWA) has revealed a significant drop in exports, with a decline of 18% in the first half of 2024 compared to the same period in 2023. The value of exports in H1 2024 fell to £2.1bn, while the volume dropped by 10.2%, equating to 566 million 70cl bottles, or 36 bottles per second. This contrasts with 40 bottles per second in the first half of 2023.
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Alcohol consumption in Ireland has decreased by almost one-third over the past two decades, according to a new study.
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The government has been urged to collaborate with the drinks industry to reduce the cost of non-alcoholic beers and wines. Mark Pritchard, the MP for The Wrekin, advised health minister Andrew Gwynne to explore ways to lower prices for these drinks.
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A recent report by the Wine and Spirit Trade Association (WSTA) has highlighted the substantial economic impact of the UK's wine and spirit industry, which contributed over £76bn to the economy in 2022. This marks a significant increase from the £49bn reported five years ago.
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The UK spirits market, to many global producers, is one they want to be part of. It’s not the biggest by any means, nor is it the most fruitful – but there is an air of prestige about it. And yet many independent producers trying to break into the UK market, will struggle or worse, fail miserably. It’s a tough nut to crack but by understanding the nuances of the market, you’ll be better equipped to tackle the challenge – and hopefully reap a bit of great British success.
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At the London Wine Fair 2024, Miles Beale, chief executive of the Wine and Spirit Trade Association (WSTA), delivered a comprehensive ‘State of the Nation’ speech, reflecting on the past four and a half years of the UK wine market under various government administrations and outlining the sector’s needs from the next government.
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French wine retailers Calais Vins and Olivier Vins have partnered with P&O Ferries to offer free ferry crossings across the Channel for British consumers.
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Taking a glass-half-full approach, much of the right-wing press applauded Jeremy Hunt’s extension of the alcohol duty freeze till February 2025, described as a ‘victory for drinkers’ up and down the country by one tabloid.
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Soaring alcohol inflation has made an explosive hole in HMRC’s receipts, new figures reveal.
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New data from Fourth has revealed hospitality revenue in Q4 2023 is up 6.1% year-on-year.
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Tax revenues from so-called ‘sin taxes’ levied on alcohol, tobacco, gambling and sugary drinks have fallen to 3.1% of total UK tax receipts, according to HMRC figures for 2022-2023.
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Last August’s duty hikes for wine and spirits have contributed to December’s unexpected rise in UK inflation, it has been revealed, as the Wine and Spirit Trade Association (WSTA) announces that the rate for the sector is now three times higher than it was this time last year.
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Chancellor Jeremy Hunt has quelled fears of a second duty rise this year in this afternoon’s Autumn Budget, by announcing a freeze until August next year.
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Wine and spirit businesses are calling on the chancellor to freeze alcohol duty until the end of parliament, when Jeremy Hunt delivers his Autumn Statement on 22 November.
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Representatives of more than 400 businesses have written to the chancellor demanding an alcohol duty freeze in the Autumn Statement.
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Mid way through 2023, Harpers is taking stock of yet another turbulent year for the drinks trade, with plenty of highs and lows, so far. We continue our series with Matteo Furlan, head of wines, The Dorchester London, to find out how the year as gone so far, and what the remainder may bring.
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The alcohol duty hikes on 1 August 2023 were the biggest the UK has seen in nearly fifty years and the changes will impact all wines across the country.
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It doesn’t seem to matter what flavour of government you have at the moment – when it comes to the spirits and hospitality industries, there’s a stench of incompetence. In Scotland we have the incredibly public failure of the DRS scheme, which, as a result, has wasted millions of pounds of taxpayers’ money. But don’t be fooled – it really is no better, south of the border. Westminster will raise you a cock up, in the form of the increased duty rates.
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