• February 22, 2024

U.K.: ‘Biggest Tobacco Tax Hike in History’

 U.K.: ‘Biggest Tobacco Tax Hike in History’
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U.K. Chancellor Jeremy Hunt is planning the biggest tobacco tax hike in history, according to the Daily Mail.

A pack of 20 cigarettes will reportedly jump by £1.15 ($1.81), which is an increase of more than 15 percent.

Although cigarette duty usually rises with inflation, some smokers had hoped the Chancellor would put a hold on a jump because of such high levels of inflation.

Tobacco taxes raise almost £11 billion in taxes for the government, representing 1.2 percent of all tax revenue.

The U.K. hopes to reduce the share of smokers in its population to fewer than 5 percent by the end of the decade.

Earlier this year, a poll found a majority of Brits want an immediate ban on cigarette sales.

The findings could fuel the belief of some lawmakers and health experts that public opinion is approaching a “tipping point,” similar to when the U.K. ban on smoking in pubs, bars and restaurants was introduced in 2006 and 2007.