With a no-deal Brexit looming, Sterling falling, UK tourism down and with overall uncertainty in the market, the drinks industry event heard recently how this will impact Ireland’s drinks and hospitality industry which employs 175,000.
Economist David McWilliams discussed the effect that ‘no-deal’ would have on Ireland’s drinks and hospitality industry at a time when it’s cheaper to travel across the border to buy alcohol, according to a recent Revenue survey.
Following his presentation, Newstalk’s Ivan Yates chaired an industry-led panel discussion at the event which was attended by leading Dublin industry members.
The discussion panel comprised David McWilliams, Drinks Ireland Director Patricia Callan, Restaurants Association of Ireland Chairman Mark McGowan and LVA Chairman Ronan Lynch.
Part of the 2019 Support Your Local campaign – and the final in a three-part nationwide series of events – the industry-led panel discussion focused on how Brexit and a no-deal scenario will impact Ireland’s drinks and hospitality businesses (which employ over 175,000) and the role of government policy in supporting this industry.
A new DIGI-commissioned report, Excise Tax Rates in Europe: How Ireland Compares, authored by DCU Economist Anthony Foley, was also launched at the event.
The report shows that Ireland continues to have the second-highest overall excise tax on alcohol in the EU.
The high cost of excise tax on alcohol remains a source of significant concern for publicans as well as hoteliers, restauranteurs, off-licence owners and other drinks and hospitality business proprietors in Ireland.
Members of the DIGI have called on the Government to reduce alcohol excise tax by 15% over the next two years – 7.5% in Budget 2020 and then by an additional 7.5% in Budget 2021.
Support Your Local is a DIGI campaign which seeks to promote the economic, cultural and social contribution the drinks and hospitality industry makes to Ireland.