Whisky worth £5bn to UK economy - report

Whisky is worth more than five billion pounds to the UK economy, according to a new report. Picture: Colin Hattersley
Whisky is worth more than five billion pounds to the UK economy, according to a new report. Picture: Colin Hattersley
Share this article
0
Have your say

THE whisky industry is worth more than £5 billion to the UK economy, according to a report.

It directly employees 10,900 people in distilleries and manufacturing, and supports around 30,000 other jobs through its supply chain, the Scotch Whisky Association (SWA) research found.

Despite a slowdown in exports, billions of bottles of whisky are still sold across the world every year.

The industry accounts for about 75% of Scotland’s food and drink exports, and nearly a quarter of the UK total.

Exports of the drink to the US were worth almost £820 million alone in 2013, a record high.

The latest research has been carried out by 4-consulting for the SWA. The industry body wants to see excise duty cut on whisky in the budget to make whisky cheaper.

The report found that the direct economic impact of the whisky industry to the UK economy is £3.3 billion, with a further £1.8 billion spent on suppliers to the industry each year through drying goods, bottles and packaging, energy, transport and distribution.

With many distilleries in rural areas, the report highlighted the industry’s role as a major employer outside traditional town and city centres.

FOLLOW US

Twitter | Facebook | Google+

-----------------------------------------

Subscribe to our DAILY NEWSLETTER (requires registration)

-----------------------------------------

SCOTSMAN TABLET AND MOBILE APPS

iPhone | iPad | Android | Kindle

SWA chief executive David Frost said: “This new report shows just how significant the Scotch whisky industry is to the wider UK economy, adding £5 billion of value, supporting over 40,000 jobs and contributing £4 billion to Britain’s trade performance.

“Scotch whisky must be recognised as a cultural asset that boosts growth and jobs, supports communities and combines the best of the traditional and the modern.

“Given the scale and impact of the Scotch whisky industry we believe the government should show its support.

“One way of doing so, in the short term, would be for the chancellor to cut excise duty by 2% in the March budget.

“It is unfair on the industry and consumers, and detrimental to the economy, that almost 80% of the average price of a bottle of Scotch is taxation.”

SEE ALSO

Whisky detective hunts and exposes sham drams