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08 July 2020

SWA on the Chancellor's Summer Economic Update

SWA on the Chancellor's Summer Economic Update
The Scotch Whisky Association has responded to the Chancellor Rishi Sunak's Summer Economic Update, saying the measures will help support businesses to recover from the coronavirus crisis.

Commenting on the Chancellor’s Summer Economic Update, announcing support measures to help business recover from Coronavirus, SWA Chief Executive Karen Betts said:

“Our industry welcomes the unprecedented support that the Treasury has rapidly put in place to support businesses and their employees over the past three months.  The Chancellor has once again risen to the challenge in the package of measures announced today to help stimulate economic recovery.

“The job retention bonus, kickstart scheme and incentives to take on apprentices will all help employers retain as many jobs as possible. We particularly welcome the focus on young people, whose working futures are most at risk, particularly in the hospitality and tourism sectors with which our industry works hand-in-hand.

“It is very good to see measures that encourage people to visit pubs, bars and restaurants once again – to socialise and to support those businesses - alongside a clear message from government that it is safe to enjoy a dram once again in a bar near you. Today’s announcements will also support Scotch Whisky tourism and the reopening of Scotch Whisky distillery visitor centres over the summer.

Our industry welcomes the unprecedented support that the Treasury has rapidly put in place to support to businesses and their employees over the past three months.

“We are looking forward to further discussions with the Chancellor and his team ahead of the autumn budget. A cut in spirits duty would continue to support the Scotch Whisky industry, hospitality and retail sectors – and all the evidence is that cuts to excise boost government revenues, making an excise cut a win-win measure that would also secure hundreds of millions of pounds of investment across the UK.”