As a result of the freeze, tax- VAT and excise duty-remains at 76%.
Last year’s 2% cut in excise helped boost revenue from spirits for the Treasury by £102 million and the SWA remain positive that Scotch Whisky will continue to be one of the UK’s most vital industries, supporting more than 40,000 jobs across the UK.
We back Scotland and back a vital industry too, with a freeze on whisky and other spirits duty this year #Budget2016
— HM Treasury (@hmtreasury) March 16, 2016
David Frost, Scotch Whisky Association chief executive, said: "We welcome the freeze in excise duty on spirits. We hope that this will sustain continued growth in the UK market for Scotch whisky and thus help improve the public finances.”
Scotch whisky will remain one of the UK’s largest exports; without it the UK’s trade deficit would be 11% larger.
Managing Director of Diageo Great Britain, Andrew Cown commented: “Scotch, as a home grown industry, flies the flag for the UK abroad and the alcohol industry as a whole generates billions for the UK economy. This year’s freeze on beer and spirits will help to continue this.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement