Drink would put paid to it (6)

I believe the answer is:

scotch

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'drink' is the definition.
(Scotch is an example)

I don't understand the rest of the clue.

(Other definitions for scotch that I've seen before include "Cut - wedge - whisky" , "Put paid to - whisky" , "Put an end to the whiskey" , "Put an end to - drink" , "Northern whisky" .)

I've seen this clue in the Evening Standard.

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