Organised by the Wine and Spirit Trade Association, the event helped publicise independent which has found that 6000 new jobs would be created and an extra £230 million generated for the public finances if the super tax were scrapped in the March Budget.
The Wine and Spirit Trade Association, the Scotch Whisky Association and the TaxPayers’ Alliance are all calling on the Chancellor to end what is known as the alcohol duty escalator. Since its introduction in 2008, the escalator has caused the tax on wine and spirits to rocket by 50% for wine and 44% for spirits.
At a time when money is tight, it’s good to hear of a positive step the Chancellor could take to unlock additional revenue to the Exchequer and create 6000 new jobs. And he can do it by cutting taxes.
I will be writing to him to ensure this important research is brought to his attention as a matter of urgency. Scrapping the duty escalator will help businesses up and down the country and provide benefits for the wider economy. It deserves careful consideration.