Interesting article in the Telegraph here.
The current UK taxes are extremely punitive. The government will undoubtedly raise taxes further this coming Wednesday during the Budget. There is talk of a 5% rise or even more. So that would be c 30% tax increase in the last year.
It is difficult enough selling Australian wine (30% swing on the currency in the last 18 months) and also European wine (the Euro is strong against the Pound).
The recession also does not help...slow payments and bad debts and companies closing.
I am always positive and we are still trading away. We have to diversify here.
The next 12 months will see more rationalization and change in the wine trade. Survival of the fittest!
Whilst at the same time we are selling more and more fine wine from Bordeaux. There is genuine interest from the UK trade and collectors (and investors) for the 2009 Bordeaux wines, which I will be tasting thoroughly in the next fortnight.