This comes as wine industry has been hit by the impact of historically high duty rates, higher inflation and the devaluation of the pound, leading to at least £549m in further costs as the UK currency continues to slide against key markets, the group said.
A two per cent duty cut would save the UK's wine drinkers 10p per bottle and spirit drinkers 55p per litre at a critical time when inflation is rising, the group said.
As well as saving money for the consumer, the cut would give the industry a £2.9bn boost to reach a record-breaking £52.6bn, the WSTA said, citing independent forecasters.
Miles Beale, chief executive of the WSTA said the duty cut would be a way for Theresa May to "empower" British business.
"This would strengthen British business, give consumers a better deal and benefit the chancellor too."
After the wine duty was frozen in 2015, the chancellor's wine duty income increased 3.6 per cent, or £136m. After a two per cent cut in 2016, the duty income increased by 4.1 per cent, or £124m over the same period. The group said a further cut this year would add another £368m in duty income.