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How Brexit is pushing up the price of wine by 5% – and how to avoid it
Oct 19, 2016
(TheSun) - Wine and Spirit Trade Association boss Miles Beale says a £188million hike in the annual cost of importing wine from outside the EU is to blame for the likely price-rise for customers.
He claims most wine bottles could go up by 29p.
He said: “We should be under no illusions that wine prices are likely to increase, which in the current climate could lead to a bottle of wine going up by 29p.
“This is of grave concern to the wine industry and it is vital that Government come out in support of the trade which generates £17.3 billion in economic activity.”
Mr Beale added: “A staggering 99 per cent of the 1.8 billion bottles of wine drunk in the UK are imported – prompting concerns that any added tariffs will have a costly impact.
“We are just weeks away from the Autumn Statement. Any increase in duty, on top of the post-Brexit Sterling devaluation, would have dire consequences on Britain’s wine trade.
“It is not only consumers who will feel the impact of price rises, but also by more than a quarter of million employees in the world leading UK wine industry.”
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