UK Budget 2017: Wine duty rise means ‘triple whammy’ price increases – trade
Wine duty is to rise in-line with inflation, disappointing trade leaders who already warned that consumers will have to pay more per bottle due to the weak pound sterling. UK Budget 2017: Wine duty to increase despite trade efforts UK Chancellor of the Exchequer, Phillip Hammond, announced that duty on wine will increase in line […]
Wine duty is to rise in-line with inflation, disappointing trade leaders who already warned that consumers will have to pay more per bottle due to the weak pound sterling.
UK Budget 2017: Wine duty to increase despite trade efforts
UK Chancellor of the Exchequer, Phillip Hammond, announced that duty on wine will increase in line with inflation, disappointing those in the trade campaigning for it to be cut.
The Wine & Spirit Trade Association (WSTA) had asked for a 2% cut, warning that retail wine prices would have to rise due to a prolonged weak sterling in the months since the Brexit vote. Ninety percent of wine in Britain is imported.
Read more at UK Budget 2017: Wine duty rise means ‘triple whammy’ price increases – trade
Tags
Ready to invest in fine wine?
Explore the latest investment-grade opportunities, register an account, or speak with our wine investment team.