SCOTCH WHISKY DUTY INCREASE HAS COST TREASURY OVER £100 MILLION!

The Scotch Whisky Association (SWA) has urged the next government to reverse last year’s increase in spirit duty, they have gone so far as to claim that it has cost the Treasury more than £100 million. The SWA reports a drop of £108 million in tax revenues from sales of spirits between August 2023 and March 2024, this is compared to the previous year. This decline is down to a 10.1% excise duty increase that was implemented by the current governent in August 2023, this was the largest rise in over 40 years.

The UK has the highest spirit duty within the G7. The SWA is calling for the next government to align UK excise duty with the European average. Graeme Littlejohn, SWA’s director of strategy and communications, reiterated that the tax hike has backfired, slowing inflation reduction and also cutting revenues. He is pushing for the next government to lower the tax burden on Scotch whisky to support growth.