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The Grapevine

The WSTA's views, distilled.

The changing world has its price - Q2 2017 Market Report

The UK alcohol industry has always managed to weather political storms. Currency fluctuations and duty increases are part and parcel of most business models in an industry that is so trade-orientated. However, Brexit is the x factor we currently face; an unprecedented geopolitical event that, for better or worse, will affect the wine industry for years to come. In particular, the devaluation of the pound after the referendum meant that import costs increased which in turn meant that prices rose. We are beginning to see evidence of this.

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Don’t let anyone tell you that Brexit has either ruined our economy or saved it

Ciaran Myles, Research, Marketing & Insights Manager, WSTA 

 



As we edge further along the Brexit timeline with limited and, at times contradictory information coming from Government, discontent from both Brexiters and Remainers alike, an ever-watchful press and volatile world markets, one thing remains constant: the world keeps turning. By this I mean that despite all the political white noise, someone has to get on with looking at how the country and the economy are performing. Whilst the old adage ‘lies, damn lies and statistics’ may ring true in parts of Westminster, the likes of the ONS, the OBR and the Bank of England continue to crunch the numbers.

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