New figures from HM Revenue and Customs reveal the Treasury has lost close to £300m in tax revenue from Scotch whisky and other spirits following Jeremy Hunt’s significant tax increase last August.
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The Wine Society has reported a successful financial year, with annual sales reaching £149.1m, an increase from £147.7m the previous year. The company also saw a significant profit increase, up 12% to £1.8m from £1.6m in 2022/23. This growth comes after a particularly strong performance during the Christmas season and a robust second half of the year.
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Taking a glass-half-full approach, much of the right-wing press applauded Jeremy Hunt’s extension of the alcohol duty freeze till February 2025, described as a ‘victory for drinkers’ up and down the country by one tabloid.
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Following another turbulent year for the drinks trade, Miles Beale, CEO of the Wine and Spirit Trade Association (WSTA), reflects on the highs and lows of 2023, plus the hopes and plans for businesses in the year ahead.
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Following another eventful year for the drinks trade Jack Green, co-founder of canned wine company Vinca, reflects on the highs and lows of 2023, plus hopes and plans for the year ahead, in our annual Q&A series.
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Following rumours of a second duty hike in line with inflation, the government quelled fears by announcing a freeze on alcohol duty in the Autumn Statement last week.
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In some quarters, Port sales received something of a lockdown boost as consumers made the most of longer, more relaxed at-home-drinking occasions. Jo Gilbert asks, can restaurants utilise this goodwill to maximise sales this winter?
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The UK Spirits Alliance (UKSA), representing hundreds of small businesses across the UK, has called on the government to back hospitality and distilleries by freezing duty on spirits at the Autumn Statement.
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Wine and spirit businesses continue to urge the chancellor to freeze alcohol duty at the Autumn Statement.
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Oxford Landing Wines, owned by Australian winery Hill-Smith Family Estates, has launched two low-alcohol wines to the UK market.
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Wine and spirit businesses are calling on the chancellor to freeze alcohol duty until the end of parliament, when Jeremy Hunt delivers his Autumn Statement on 22 November.
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With autumn tastings in full swing, and with it the opportunity for retailers, wholesalers and suppliers to show off new stock, Harpers wondered if there might be an influx of lower-abv wines in light of the duty hikes. James Bayley reports.
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Jo Gilbert reports on the results of Harpers’ latest survey, where we asked independent retailers to let us know which cost pressures are affecting them most – with inflation and duty unsurprisingly leading the charge.
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With wine duty set to increase by 20% and spirits duty by more than 10%, how might supermarkets offset these costs? James Bayley reports.
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