The Scotch Whisky Association argued this week at Westminster that as a £5 billion industry and a vital part of the UK economy the government should implement measures that support the sector and cut duty by 2%
The Scotch Whisky Association argued this week at Westminster that as a £5 billion industry and a vital part of the UK economy the government should implement measures that support the sector and cut duty by 2%.
David Frost, the chief executive of the SWA, said: "The new report shows just how significant the industry is to the wider UK economy. Given the scale and impact of the industry, we believe the government should show its support and recognise Scotch as a cultural asset that boosts growth and jobs and supports communities by cutting excise duty by 2% in the Budget. It is unfair on the industry and consumers that almost 80% of the average price of a bottle of Scotch Whisky is taxation."
The call for a decrease in duty came at an event that was hosted in the House of Commons celebrating the launch of 'The Economic Impact of Scotch Whisky Production in the UK' report, which was commissioned by the SWA from 4-consulting.
The report found that the Scotch Whisky industry contributes £5 billion to the UK economy and is worth more than the iron, steel, textiles, shipping and computing industries.
The report also found that for every £1 million of value added, the industry generates another £520,000 across the UK, such as spending on suppliers in a range of sectors, from packaging to trucking.
Producers spend a total of £1.8 billion on suppliers, with 90% of that spend occurring in the UK. The Scotch Whisky industry directly employs 10,900 people and supports a further 30,000 jobs across the UK through the supply chain.
The event was hosted by the SWA and All Party Parliamentary Group on Scotch Whisky. Those attending were politicians, suppliers and those within the Scotch Whisky industry.