Scotch Is Expensive, But Brexit Cost Even More: Controversial Report Claims Brexit Costing Whiskey Industry £5 Million Per Week
Many will argue whether Scotch whiskey is a luxury, or one of life’s great necessities. Either way, it’s not hard to argue that whiskey isn’t an inexpensive lifestyle. Even more expensive, though, is the cost that Brexit is allegedly pushing onto the industry.
First reported in The Scotsman, with additional commentary by Forbes, reports are showing that there is a significant delta between the 2019 sales of Scotch Whiskey, and sales in the same period (January to March) this year.
SNP MP for Argyll and Bute remarked: “Scotch whisky plays a crucial role in the success of Scotland’s food and drinks sector and our economy given it accounts for 75 per cent of the sector – so for the industry to be losing £5 million per week is devastating” said Brendan O’Hara.
5 Million Pounds is equitable to $6,918,825.00 USD using today’s exchange rates. Assuming an average price of $75 per bottle, this downturn in sales represents a short selling of almost 95,000 bottles of Scotch whiskey per week.
Officials are remarking that the report is “misleading” although there is no rebuttal or additional information to support the claim.
Scotch whiskey producers assert that the critical shortcoming of sales come as a combination of COVID, recently resolved tariffs, and the complications that come with exporting to the EU in a post-Brexit existence. Most notably, the root of irritation seems to center around Scotland being impacted by Brexit, despite not having a hand in approving the action.
There are some silver linings, sales figures point that Scottish goods are increasing in value – higher now than this time in 2020 – but there’s no word when that valuation may break even with losses currently equated to export difficulties blames on Brexit.
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