Cheap wine damaging our brand overseas, says Treasury chief

Treasury Wine Estates chief executive Michael Clarke, whose global portfolio includes Penfolds, Wolf Blass and Lindemans, has warned Australia must move away from the poor reputation “Brand Australia” has overseas for cheap wine, to an industry that stands for more premium wine that generates sustainable profits. Addressing The Australian’s Global Food Forum in Melbourne, Mr Clarke also called on the federal government to snuff out the wine equalisation tax (WET) rebate system in its current form, which he said was “being rorted’’ and only served to further cheapen “Brand Australia”.