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UK Wine Taxes Threaten Booming Industry
8 Feb
Summary
- Britain's largest wine estate warns tax rises could devastate the industry.
- Expansion plans at Denbies vineyard are on hold due to rising costs.
- High alcohol duties in the UK make it hard to compete globally.
Britain's largest wine estate, Denbies, has warned that escalating tax burdens risk destroying a flourishing domestic industry. Chief executive Chris White stated that expansion at the Surrey vineyard is currently paused due to rising costs.
Successive increases in National Insurance Contributions and the National Minimum Wage, alongside a recent 3.66 per cent hike in alcohol duty, have contributed to the financial strain. Business rates are also set to increase in April, prompting caution from vineyard management.
White highlighted that the UK's high alcohol duties make it challenging to compete with producers in regions like South Africa, New Zealand, and South America. He urged ministers to act quickly to prevent vineyards from disappearing from the British landscape.
