Scotch Whisky Association Calls For Excise Cut In UK
The Scotch Whisky Association has called on the UK government for a 2 per cent cut in excise in its March Budget, saying that combined excise and VAT on a standard bottle of whisky currently stands at...
The Scotch Whisky Association has called on the UK government for a 2 per cent cut in excise in its March Budget, saying that combined excise and VAT on a standard bottle of whisky currently stands at 76 per cent.
According to the SWA, last year’s cut in excise duty in UK contributed to a £96 million increase in revenue from spirit drinks for the Treasury, and 76 per cent of British adults support a further cut in duty this year.
It said that while last year's decision was a step in the right direction, it was the first cut in spirits duty in nearly 20 years and was only the fourth time that tax on whisky has been cut in the last century.
David Frost, chief executive of the Scotch Whisky Association, commented, "The Government's own figures tell a simple story: when tax is too high, if you cut it, revenues go up, not down.
"Along with the British public, we believe that the current tax of 76 per cent on a bottle of Scotch is too high. An ordinary drinker will hand over almost ten pounds in tax on each bottle they buy. We would like to see a 2% per cent cut again this year."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.