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Brexit Brings Cheaper Whisky for International Buyers

Brexit Brings Cheaper Whisky for International Buyers

Britain’s government has decided to make Scotch whisky cheaper for all international buyers, as a result of developing new trading relations around the world after Brexit

After David Mundell, minister of Scotland, met with representatives of the Scotch Whisky Association and drinks company Diageo Plc at a distillery on the island of Islay, Liam Fox, Trade Secretary, said that he plans to reduce the high tariffs on alcohol exports as soon as Britain leaves the European Union.

“Reducing the costs for companies to sell overseas will become one way of further opening up free trade routes and boosting sales,” Fox said in a statement. “That’s why I’ve tasked my international economic department to look at how we can support more businesses to build their brands abroad.”

Despite Scotland’s vote against Brexit, the fall in sterling that resulted provided a boost to sales of Scotch. Moreover, the UK government will also take care of lowering tariffs on other “iconic Scottish goods” such as salmon. Prices on Scotch can be as much as 150% of the value of the product.

Boris Johnson, UK Foreign Secretary made a joke regarding tariffs on scotch when he was visiting a Sikh temple in India: ‘We have to bring Johnnie Walker or we have to bring whisky because as you know there is a duty of 150 percent in India on Scotch whisky.”

 

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