The Scotch Whisky Association held the event to publicise its recent report The Economic Impact of Scotch Whisky Production in the UK.
Alistair Carmichael, Scottish Secretary and long term supporter of the scotch whisky industry, summarised the report in an address to fellow mps, scotch whisky industry suppliers and drinks trade journalists.
Carmichael said the industry adds £3.3bn directly to the UK economy and nearly £5bn overall to UK GDP, adding that “there cannot be many industries that can claim that.”
The Scotch whisky industry alslo spends £1.4bn a year on Scottish suppliers and £320m on suppliers in the rest of the UK.
David Frost, CEO of the SWA, acclaimed the importance of the industry’s supply chain. “Modern trade theory tells us that to be a successful trader we have to plug into successful supply chains. We cannot do what we do without them. Almost all of the [scotch whisky] supply chain is in the UK.”
Industry-related expenditure leaving the country in 2013 amounted to £0.2bn (mainly in Bourbon barrels) meaning the industry’s trade balance stood at £4.1bn, putting it ahead of all other UK industries but mechanical machinery.