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WSTA thanks Chancellor for ending alcohol tax escalator
The Wine and Spirit Trade Association has thanked George Osborne, Chancellor of the Exchequer, for scrapping the UK’s alcohol tax escalator in the 2014 Budget with a framed message of gratitude.
The WSTA has personally thanked Chancellor George Osborne for scrapping the UK alcohol duty escalator
Chancellor Osborne announced his decision to scrap the annual duty hike of 2% above inflation on wine and spirits after six years of continued increases.
Miles Beale, chief executive of the WSTA thanks the Chancellor personally during a meeting.
“I believe it is important to give credit where it is due,” commented Beale. “The wine and spirit industry asked the Chancellor to listen and to take action for jobs and growth, and he did both.
“He scrapped a damaging mechanism of automatic year-on-year tax increases which was choking off job creation, undermining the industry’s competitiveness and hitting responsible drinkers unfairly.
“It will take time for the benefits to be realised, but I am confident that a Great British industry like ours can start creating jobs, generating growth and realising its full potential – all to the wider benefit of the UK economy.
“The wine and spirit industry already makes a significant contribution to the UK economy and society – and with continuing support, including at the next Budget, this Great British industry can contribute more.”
The WSTA launched a campaign in December 2013, calling for an end to the UK’s alcohol tax escalator and claiming it would boost public finances by £230m.
Osborne said he recognised the “significant contribution” the wine and spirits industry makes to the economy through both employment and contributions to local communities.
“We need to support the community hub that is the Great British pub, including the increasing number which rely on wine and spirit sales as much as they do on sales of beer and cider,” he added. “This Government believes in business because enterprise will sustain the UK’s economic recovery. I am pleased to see that the wine and spirit industry is playing its part.”
Members of the spirits industry welcomed Osborne’s announcement he would be scrapping the “debilitating” alcohol duty escalator back in March this year.