SCOTCH whisky is more valuable to the UK economy than textiles, shipbuilding, computing and the iron and steel industries, according to a new report.

The national drink contributes nearly £5 billion to the country, supporting 40,300 jobs, and its value is growing, the study commissioned by the Scotch Whisky Association (SWA) found.

The report underlines the huge financial significance south of the border, with the whisky industry larger than other UK food and drink sectors, including meat, dairy, beer and soft drinks.

The industry supports 40,300 jobs in the UK, up from around 35,000 in 2008. These are in a range of sectors including glass manufacturing and labelling. This total includes 10,900 people directly employed by the industry in Scotland, up six per cent.

Every job in Scotch whisky supports a further 2.7 British jobs, according to the consultants who conducted the study.

The SWA is lobbying for a two per cent cut in duty on whisky in the budget in March and it is hoped that by highlighting its UK-wide importance and potential, the Chancellor may see the industry worthy of increased support.

David Frost, Scotch Whisky Association chief executive, said: "This new report shows just how significant the Scotch whisky industry is to the wider UK economy, adding £5bn of value, supporting over 40,000 jobs, and contributing £4bn to Britain's trade performance.

"Scotch whisky must be recognised as a cultural asset that boosts growth and jobs, supports communities and combines the best of the traditional and the modern.

"Given the scale and impact of the Scotch whisky industry we believe the government should show its support.

"One way of doing so, in the short term, would be for the Chancellor to cut excise duty by percent in the March Budget. It is unfair on the industry and consumers, and detrimental to the economy, that almost 80 per cent of the average price of a bottle of Scotch is taxation."

The report shows Scotch contributes nearly £5bn overall to the UK economy. For every £1 million of value added, the industry generates another £520,000 across the UK in spending on a range of suppliers from packaging to haulage.

The report claims that workers in the industry are the third best paid in Scotland, behind energy and life sciences, but better paid than employees in financial and business services. In addition every £1 paid to workers in the industry generates a further £1.68 in salaries for workers in the broader economy.

Scotch whisky is also the lifeblood of many rural communities in the Scotland's glen, straths and islands, where it sustains 7,400 jobs, contributes around £900m in gross value added (GVA) and generates around £250m of income.

In Scotland, it makes up almost three quarters of the food and drink sector and is three times the size of Scotland's digital or life sciences industries, according to the report from 4-consulting.

Despite these figures , it was only in September that the SWA published figures showing that exports in the first half of 2014 were £1.77 billion, down 11 per cent from £1.99bn in the same period of 2013.

While there were many areas of growth, major markets such as China, Singapore, the US, Brazil and Mexico, were going in the opposite direction.

However, there is confidence in the long-term future of Scotch whisky, with many projects for new distilleries under way, and up to £2bn of capital investment in Scotland by producers.

Overall, there are plans for around 30 new distilleries across Scotland from islands of Harris to Raasay and Shetland to Angus and Glasgow; and many new warehouses. But the industry is still looking for government help to achieve more.

George Osborne, Chancellor of the Exchequer, said: ''Scotch whisky is an important national industry and a great exporter and creator of jobs for the whole UK. Backing businesses and exporters is key to our long term economic plan."