No-deal Brexit would threaten Scotch whisky export growth, say producers [Reuters]
Diageo plc (DEO)
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Source: Reuters
No-deal Brexit would threaten Scotch whisky export growth, say producers | Reuters 2 Min Read EDINBURGH (Reuters) - Leaving the EU in March without a deal would pose risks to Scotch whisky’s current healthy rates of export growth, the Scotch Whisky Association said on Tuesday. It told Reuters it was also concerned about significant increased labeling costs of a no-deal Brexit to Britain’s biggest food and drink export. It said no-deal would add cost and complexity to UK/EU trade and would mean the loss of trade benefits worth 50 million pounds ($65 million) annually in tariffs. “Moreover, we have real concerns about the ability of port operators to cope with significant, last-minute changes to export systems, and the risk of disruption at ports is high,” the group said in a statement. An SWA spokeswoman said one of the biggest concerns was to do with labeling requirements. If a no-deal scenario takes effect from end March, EU-bound product labels would need to display either an EU add
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