UK cigarette prices set to soar in Spring Budget

Mar.17.2023

UK tobacco tax increase raises prices for smokers, with 20-pack cigarettes now costing over £14 due to a 12% rise.

According to reports, British Chancellor of the Exchequer, Jeremy Hunt, has increased the tobacco tax in the spring budget.

After the increase in tobacco tax, the price of a pack of 20 cigarettes will exceed £14, adding further strain to the budgets of over six million smokers in the UK.

The cigarette tax will increase by 10.1% based on the retail price index, plus an additional 2%.

The price of hand-rolled cigarettes will increase by an additional 6% on top of the existing retail price index of 10.1%.

According to data from the UK's National Statistics Office, the current average price for a pack of 20 cigarettes is £12.84 (approximately RMB 107). Therefore, a 12% price increase would bring the cost to £14.38 (approximately RMB 120), resulting in an extra £1.54 (approximately RMB 12.8) per pack.

The last time cigarette prices increased was in October 2021. The rise in tobacco prices is part of the UK's plan to achieve a smoke-free goal by 2030.

Reference:

Smokers face bad news as the Budget results in a significant increase in the price of cigarettes.

#Europe #Poland #Market #Disposable e-cigarettes #UK #The United Kingdom

This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

Michigan Senate Passes Bipartisan Bills Requiring Tobacco Retailer Licensing

The Michigan Senate has passed bipartisan legislation requiring tobacco retailers to be licensed statewide, aiming to strengthen enforcement against youth tobacco use. The bills introduce regular inspections, tougher penalties for sales to minors, regulation of online and delivery sales, and a ban on flash sales. The legislation now moves to the Michigan House for further consideration.

Dec.26 by 2FIRSTS.ai

Kyrgyzstan Extends Import Ban on E-Cigarettes and Nicotine Liquids by Six Months

The Kyrgyz government has extended its ban on the import of electronic cigarettes and nicotine-containing liquids for another six months. The decision, signed by the chairman of the Cabinet of Ministers, covers e-cigarettes, integrated nicotine delivery systems, and nicotine liquids used in such devices. The original ban was introduced in July and was due to expire soon.

Dec.24 by 2FIRSTS.ai

Imperial Brands launches ZONE nicotine pouches in the UK, covering the core 9–12 mg strength segment

Imperial Brands has launched its ZONE nicotine pouches in the UK, targeting the mainstream 9–12 mg nicotine strength segment. The brand debuts with five flavours at a recommended retail price of £6.50 per can. Mint variants currently account for around 70% of UK nicotine pouch sales, while fruit flavours are growing rapidly. ZONE will be distributed primarily through independent retail channels.

Nov.18 by 2FIRSTS.ai

Spain’s new e-cigarette e-liquid tax, in force since April 1, raises €26 million through November

Spain’s Tax Agency monthly collection report shows the new tax on e-cigarette e-liquids, in force since April 1, raised €26 million through November, including €4 million in November. The levy began three months later than the usual fiscal timetable to allow the sector to adapt, making 2025 the first year in which vaping products are taxed under a specific category.

Dec.30 by 2FIRSTS.ai