Post-Brexit support strategy required for Scotland’s growth hungry food and drink sector

James Chadwick
James Chadwick

Global accountancy firm Grant Thornton has called on the Scottish and UK Governments to develop a range of post-Brexit support measures tailored specifically to Scotland’s food and drink industry.

The leading business and financial advisor is warning that fluctuating currency conditions and uncertainty over potential future trade tariffs could damage one of the country’s most important sectors.

According to the latest data from the Scottish Annual Business Statistics (SABs), the food and drink industry is valued at more than £14.4 billion, and remains on track to achieve its revenue target of £16.5 billion by next year.



Part of the success has been down to a relentless focus by the industry on export growth, with £4.8 billion worth of food and drink now being shipped to key markets, including the United States and European Union.

While currency changes can produce short term benefits for export-focused businesses, there are fears that ongoing instability and rapid market fluctuations could halt any further growth in an industry that currently employs more than 360,000 people in Scotland.

Grant Thornton is calling on both Westminster and Holyrood to consider a bespoke package of measures to support the industry, similar to those being implemented to assist the country’s oil and gas sector. It follows the publication of the firm’s latest Going Global report, offering key insights and advice for Scottish exporters from industry leaders and experts around the world.

James Chadwick, Grant Thornton’s head of food & drink in Scotland, said: “The last few months and years have presented real obstacles to growth for Scotland’s food and drink sector, with major political upsets and growing economic challenges. But, the industry has continued to focus relentlessly on long term sustainable growth, and much of this is down to greater collaboration and the support of networks such as SDI and Scotland Food & Drink.

“If the success story is to continue, we need to see a raft of measures aimed specifically at supporting the industry and guiding it through potentially significant economic challenges in the future – particularly the potential for trading tariffs and other protectionist measures which could make export growth unviable. The country’s food and drink sector has a lot to be proud of. A joined-up approach from political and business leaders will help to ensure the success story continues, regardless of the challenges that lie ahead.”

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