SWA looks forward to working with new Prime Minister

Commenting on Liz Truss becoming the next UK Prime Minister, Mark Kent, Chief Executive of the Scotch Whisky Association, said:

“Congratulations to Liz Truss on becoming the next Prime Minister. She takes office at a critical time, with the cost-of-living crisis at the forefront of minds.

“Economic growth has been a priority for Liz Truss during the campaign, and the Scotch Whisky industry is an example of how home-grown sectors can drive growth by attracting investment, creating jobs and increasing government revenue.

“Ahead of the Autumn Budget, it is vital that the UK government abandons the planned RPI increase on spirits duty. An RPI increase – in the region of 12% - would compound the cost of business pressures companies are facing, with already significant supply chain inflation and volatility, add at least 95p of duty alone onto every bottle of Scotch Whisky, and further fuel inflation. Previous duty freezes have been a clear sign of support for the Scotch Whisky industry, and for Scotland, and increased revenue to the Treasury from spirit receipts by 30% over the past five budget duty freezes.

“In addition, delivering on an ambitious UK-India free trade agreement which reduces the current 150% tariff on Scotch Whisky would create £1bn of additional exports over the next five years and create 1300 UK jobs.

“We look forward to working with the new Prime Minister and her team to deliver for Scotch Whisky at home and overseas.”

Ends