Predicted overhaul of Britain’s excise duties on alcohol could bring positive news to English & Welsh producers
An article in last weekend’s Sunday Times forecast that the Chancellor, Rishi Sunak, is planning to simplify the tax system on alcohol in his Autumn Budget which could hail positive news for Britain’s wine producers. It is predicted that sparkling wine duty will be reduced in line with still wine and that there would be further support for English and Welsh wines through restructured duties bringing tax advantages over imported sparkling wines, now that Britain is operating outside of the EU.
“This is welcome news to the wine industry of Britain,” comments Simon Thorpe MW, CEO of WineGB. “WineGB has long lobbied the Treasury as part of our engagement on the government’s Excise Duty Review and these changes, if they are announced, would represent a significant benefit to the British wine production industry. We look forward eagerly to the Chancellor’s Autumn Budget Statement on 27th October.”