Subscriber login Close [x]
remember me
You are not logged in.

Wine and spirits industry welcomes "stability" of Scottish "No" vote for independence

Published:  19 September, 2014

Parts of the UK wine and spirits industry have welcomed the "stability" the news this morning that Scotland has rejected independence to remain part of the United Kingdom.

 

Parts of the UK wine and spirits industry have welcomed the "stability" the news this morning that Scotland has rejected independence to remain part of the United Kingdom.

Overnight the Scottish vote swung in to the No camp with a final share of 55% of votes cast, some 2.1 million, compared to the 1.6 million, and 45% that backed the Yes independence campaign.

Many business leaders in the wine and spirits industry, noticeably from the Scottish whisky sector, had publicly and privately feared the uncertainty a Yes vote would bring, and the knock-on effect it would have on the efficiency and profitability of the overall industry.

Respected drinks analysts, Rabobank, in a report published this week, had argued a vote for independence would have a negative impact on the Scotch whisky industry.

The Scotch Whisky Association was quick to issue a statement this morning. David Smith, chief executive of the SWA, said: "The people of Scotland have made a historic choice against the background of the most profound national debate. 

"We welcome the stability that this choice brings and now urge politicians of all parties to work to bring our country together."

SWA welcomes the stability the No vote will bring

But the SWA shared the view of both sides of the Yes/No argument that the scale of the Scottish vote, with an unprecedented 85% turn out, meant further steps had to be taken to devolve power away from Westminster.

The SWA said: "The referendum debate has shown the need for government and business to collaborate to address long-term economic challenges. We will be looking closely at plans for further devolution within this context.  There must now be a renewed focus on improving the business environment so that Scotland's economy can grow to everyone's benefit. 

 "The Scotch Whisky industry is determined to play a leading role in shaping discussions that are fundamental to the future success of our industry and our nation.""

The wine & spirits industry supports a large number of jobs in Scotland. Improving the business environment for our members in Scotland and the rest of the UK is a key priority, which is why we will be campaigning for a fairer duty system that benefits Scotland and the rest of the UK."

Miles Beale, chief executive of the Wine & Spirit Trade Association, added: "Scottish voters have made an historic choice. Further devolution is certain and the WSTA will be working closely with its members to ensure that any barriers to the way they do business in Scotland - or the rest of the UK - are minimised.  Scotland is, and always will be, an important player in the UK wine and spirit sector."

A Harpers poll earlier in the week which asked the UK drinks industry which way they would vote in the Yes/No referendum revealed a strong swing to the Yes camp with nearly 60% of the 300 votes cast.  

Harpers poll resultsHarpers poll results

Keywords: