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.

Malaysia’s Cabinet Agrees in Principle to Nationwide Vape Ban

Malaysia is accelerating efforts toward a nationwide ban on vaping, with the Health Ministry aiming to finalise the policy by 2026. Health Minister Dzulkefly Ahmad said the Cabinet has already agreed in principle to move toward a ban, stressing that the issue is no longer whether vaping will be banned, but when.

Dec.16 by 2FIRSTS.ai

Exclusive: Suspected ‘Backend Update Then Withdrawal’ Suggests Glas May Be Next FDA-Authorized E-Cigarette Brand After Juul

An exclusive 2Firsts investigation found an unpublished FDA update on e-cigarette marketing authorizations that mirrors market speculation, suggesting Glas’s application may have cleared internal review, though no official confirmation has been issued.

Regulations

Dec.21

Hungary’s Continental Tobacco Launches New Slay Nicotine Pouch Brand in UK Targeting Female Consumers

Hungary’s Continental Tobacco Group has launched its Slay nicotine pouch brand in the UK, featuring compact, pastel-toned packaging and backed by a multi-million-pound investment and retail pilot programme to build its presence in the local market.

Dec.03 by 2FIRSTS.ai

South Korea’s Parliament Reconsiders Bill to Regulate Synthetic Nicotine as Tobacco

South Korea’s National Assembly is once again reviewing a bill to classify synthetic nicotine as a tobacco product under the Tobacco Business Act. The proposal aims to close regulatory loopholes that allow untaxed, unregulated nicotine liquids — often used by minors — to circulate freely. Lawmakers expect the bill to pass during the current session amid growing public and civic pressure.