Because drinking like your job doesn't pay too well...you might want to head to Denmark, where a reduction of almost half of the duty of whisky has cut prices substantially. it is now cheaper to buy whisky in "copenhagen than it is in Edinburgh." who would have thought. The severe reduction in tax on whisky will likely lead to an influx in whisky imports and domestic production as well as an influx in consumption. It also may well make surrounding states such as Sweden reduce their taxes to compete with the suddenly low prices of Danish whisky.
This small scale example gives us a view of what will happen with a sudden change in a duty (which are fairly uncommon) and it provides it in a field I am sure many can relate to. This change, especially before competing markets can catch up, will likely give a substantial boost to the Danish whisky market. Free-Trade for all and hope you enjoy the article. Here's the link, Drink up.
Martin D
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