> The Prime Minister has secured a significant win for Scotland’s iconic whisky industry, with China agreeing to cut tariffs on Scotch whisky from 10 per cent to 5 per cent.
> The deal, signed during the Prime Minister’s visit to Beijing, will be worth £250 million to the UK economy over the next 5 years. China is currently Scotch whisky’s 10th largest market by value, and this tariff reduction will help Scottish distillers compete more effectively in one of the world’s fastest-growing consumer markets.
> This latest success follows the landmark UK-India trade deal, which slashed Indian import tariffs on Scotch and is set to increase sales to India by up to £1 billion a year. That deal alone is expected to grow the Scottish economy by £190 million annually.
Every little helps. Good for the Scotch whisky industry.
JB_UK on
A 5% cut in Whisky tariffs worth £250m over 5 years? Do we really sell £1bn worth of whisky to China each year? These figures must have some generous assumptions.
urbanspaceman85 on
Had honestly forgotten what it was like to have a government *actually fucking doing things*.
SeekerofWisd0m on
We’ve heard of what we’ve gained, this and visa free travel, but not what we’ve given ?
5 Comments
> The Prime Minister has secured a significant win for Scotland’s iconic whisky industry, with China agreeing to cut tariffs on Scotch whisky from 10 per cent to 5 per cent.
> The deal, signed during the Prime Minister’s visit to Beijing, will be worth £250 million to the UK economy over the next 5 years. China is currently Scotch whisky’s 10th largest market by value, and this tariff reduction will help Scottish distillers compete more effectively in one of the world’s fastest-growing consumer markets.
> This latest success follows the landmark UK-India trade deal, which slashed Indian import tariffs on Scotch and is set to increase sales to India by up to £1 billion a year. That deal alone is expected to grow the Scottish economy by £190 million annually.
Reporting on STV: https://news.stv.tv/politics/china-to-cut-tariffs-on-scotch-whisky-after-prime-minister-secures-deal
Every little helps. Good for the Scotch whisky industry.
A 5% cut in Whisky tariffs worth £250m over 5 years? Do we really sell £1bn worth of whisky to China each year? These figures must have some generous assumptions.
Had honestly forgotten what it was like to have a government *actually fucking doing things*.
We’ve heard of what we’ve gained, this and visa free travel, but not what we’ve given ?