For every £1m of value added, the industry generates another £520,000 across the UK, according
to the report commissioned by the Scotch Whisky Association (SWA), saying it impacts suppliers in a range of sectors, from packaging to haulage.
David Frost, SWA chief executive, said: “This new report shows just how significant the scotch whisky industry is to the wider UK economy, adding £5bn of value, supporting more than 40,000 jobs, and [within that] contributing £4bn to Britain’s trade performance.
“Scotch whisky must be recognised as a cultural asset that boosts growth and jobs, supports communities and combines the best of the traditional and the modern.”
After releasing the report, Frost also took the opportunity to urge the government to cut taxes levied against spirits. “Given the scale and impact of the scotch whisky industry we believe the government should show its support.
“One way of doing so, in the short term, would be for the chancellor to cut excise duty by 2% in the March Budget.
“It is unfair on the industry and consumers, and detrimental to the economy, that almost 80% of the average price of a bottle of scotch is taxation.”