SWA Budget Submission 2018
26 Sep 2018
"We are very clear about the importance
and significance of industries like the Scotch Whisky industry."
This claim, made by Prime Minister Theresa May on 7th August 2018,
will be put to the test in the Autumn Budget. In order to support
Scotland's national drink, we call on the Chancellor to freeze duty
Freezing duty on Scotch Whisky will prove the UK government's
commitment to supporting the Scotch Whisky industry. Importantly,
it will also boost government revenue, enable the industry to
continue to invest in the UK economy and help consumers to make
responsible choices about alcohol consumption.
HM Treasury's own figures show that the freeze to spirits duty
in November 2017 has increased revenue available to government
which can help fund vital public services. Between February 2018,
the new implementation date for policy changes, and August 2018,
spirits revenue grew by £163m to £1,937m - an increase of 9.1% year
In addition, a new economic analysis conducted by the Centre for
Economic and Business Research, shows that by continuing to freeze
spirits duty, the Chancellor can grow revenue by an additional £64m
in 2019/20 and by almost £200m by 2021.
Both the real-world data and the economic modelling suggests
that a more competitive rate of duty for spirits will boost revenue
and grow the UK economy.
In a more stable excise environment, the Scotch Whisky industry
has been able to do its part to boost the UK economy, investing
over £500m in capital projects, creating jobs in manufacturing,
tourism and the supply chain.
In the Autumn Budget, we will look to the Chancellor to support
Scotch and signal to the world that we are proud of Scotland's
national drink and eager to back the industry's success.
The SWA's full Autumn Budget
submission is available below.