Brexit: drinks industry facing ‘perfect storm’
Tax now comprises nearly a third of the price of a pint of beer. Irish tax on beer is the third-highest in the EU and is a whopping 10 times the level of Germany and Spain, five times that of Portugal and nearly three times that of the Netherlands.
“The combination of high excise and the uncertainty over Brexit, has caused the ‘Perfect Storm’ for the pub trade and the tourism market in Ireland,” according to Donall O’Keeffe, Secretary of the Drinks Industry Group of Ireland, “We firmly believe that the Brexit Vote has resulted in an even stronger case for a significant reduction in alcohol excise. Budget 2017 should compensate for the negative effect of Brexit such as exchange rate uncertainty, impacts of a new ‘border’ and the impacts that Brexit might have on British tourists and their spend in Ireland.”