Fiscal Task Force Urges Higher Taxes

Raising taxes on tobacco, alcohol and sugary drinks can prevent millions of deaths and generate trillions in revenue for governments worldwide, especially in low-income and middle-income countries, according to a new report released by the Task Force on Fiscal Policy for Health.

Among other conclusions, the report finds that raising taxes enough to increase prices by 50 percent on these products could prevent 50 million premature deaths over the next 50 years and raise $3.7 trillion over the next five years, including $2.1 trillion in low-income and middle-income countries, where the health burden is greatest.

According to the authors, cigarettes have become more affordable to nearly 90 percent of the world’s smokers in the past five years due to stalled progress in increasing tobacco taxes.

Co-chaired by philanthropist Mike Bloomberg, Barbados Prime Minister Mia Amor Mottley and economist Larry Summers, the task force convened in 2018 to address noncommunicable diseases and comprises experts in fiscal policy, development and health.