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The Scotch Whisky Association has slammed Jeremy Hunt’s decision to abandon the freeze in alcohol duty after just two weeks.
The new Chancellor on Monday ditched most of Kwasi Kwarteng and Liz Truss’s proposals from their September mini-Budget.
Mark Kent, the Scotch Whisky Association’s chief executive, said: “Business can only work on the basis of certainty and stability.
READ MORE: Jeremy Hunt scraps income tax cut and reviews energy support
“That has been stripped from the Scotch whisky industry following the Chancellor’s decision to U-turn on the duty freeze for Scotch whisky announced just over two weeks ago.”
Mr Kent warned the decision would “add to pressures in the UK hospitality industry, and household budgets as costs inevitably increase”.
He added: “Distillers are facing increasing economic headwinds and rising costs, the duty freeze offered much needed support.
“We urgently need that commitment to be reinstated.”
In general, business groups welcomed the new Chancellor’s emergency announcement.
Rain Newton-Smith, CBI chief economist, said: “The Chancellor is acting swiftly and firmly in looking to restore confidence to markets and businesses.
“Macro-economic stability is the number one priority right now – the pre-condition to economic growth.
“Businesses will work closely with the Chancellor on an affordable plan for sustainable economic growth that drives investment and supports living standards.”
Kitty Ussher, chief economist at the Institute of Directors, added: “It is of course right for the Government to focus on restoring stability and confidence – without that growth is impossible.”
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