DIGI says Brexit will cut drinks industry tax revenue by €135m

0

 

  • Call for cut in excise duty
  • Drinks exports to Britain are down 11pc in 2018 

DIGI chair Rosemary Garth

The Drinks Industry Group of Ireland says Brexit could cost the Irish Exchequer €135m annually.

‘Economic Impact of Brexit on the Drinks and Hospitality Sector‘ report found that the lost revenue would result from reduced drinks exports to Britain, reduced British tourism, and an increase in cross-border shopping.

Drinks exports to Britain are down 11pc in 2018 on the back of a 7pc drop between 2015-2017,. Britain is responsible for 70pc of cider exports, and43pc of beer exports.

To counteract the effects of a hard Brexit on the drinks and hospitality industry, ahead of Budget 2019, DIGI is calling on the Government to reduce alcohol excise tax.  Ireland has the second-highest level of excise tax on alcohol in the EU.

Rosemary Garth, chairperson of DIGI and director of communications at Irish Distillers, said that while the negative effect of Brexit has been presented in terms of the medium and longer term, we are concerned about the immediate and short-term effects which are already being felt by the drinks industry.”

Comments

comments

Share.

About Author

Travel Extra

Ireland's premier source of travel information

Leave A Reply