UK Finance Minister Plans Record Tobacco Tax Hike

Feb.24.2023
UK Finance Minister Plans Record Tobacco Tax Hike
UK Chancellor Jeremy Hunt plans the largest tobacco tax increase in history, raising a pack by £1.15.

Recently, according to the Daily Mail, Jeremy Hunt, the Chancellor of the Exchequer in the UK, is planning to implement the biggest tobacco tax increase in British history.


According to reports, Hunter will officially release the budget proposal on March 15th, which includes a tobacco tax increase. A pack of 20 cigarettes will increase by £1.15 (approximately RMB 9.5), representing an increase of over 15%.


Although tobacco taxes usually increase with inflation, some smokers in the UK are hoping the government will temporarily delay the implementation of this decision due to the current high level of inflation.


The tobacco tax has generated nearly £11 billion in revenue for the government, representing 1.2% of all tax revenue for the year. Britain aims to reduce the proportion of smokers in the population to below 5% by the end of the century.


Earlier this year, a public opinion poll revealed that most British people wish to immediately ban the sale of cigarettes. According to a survey conducted by MailOnline, 52% of respondents support a "complete" ban on purchasing cigarettes, while 31% "strongly" support a ban on their sale.


The findings of the survey could provide legislators and health experts with more confidence that public opinion is nearing a crucial moment in favor of a smoking ban. It is reported that the UK previously implemented a ban on smoking in bars and restaurants in 2006 and 2007.


References:


Health Secretary Jeremy Hunt is reportedly considering increasing the tax on tobacco in line with inflation, resulting in a £1.15 rise in the price of a pack of cigarettes, according to sources. The potential move is expected to be announced in next month's budget.


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.

Over 92,000 kg of Nicotine Products Seized at Ambassador Bridge
Over 92,000 kg of Nicotine Products Seized at Ambassador Bridge
The Canada Border Services Agency seized 92,270 kilograms of undeclared nicotine products at the Ambassador Bridge over four days, according to a social media post. The confiscated items included vapes, tins, and pouches. Officials stated the seizure helps prevent profits from reaching organized crime groups.
Dec.03 by 2FIRSTS.ai
Buenos Aires Province issues health alert over growing use and promotion of nicotine pouches
Buenos Aires Province issues health alert over growing use and promotion of nicotine pouches
The Ministry of Health of the Province of Buenos Aires issued a health alert to the public and health teams over increased circulation, promotion and consumption of nicotine pouches. It said the disposable oral products dissolve in the mouth without combustion or vapor and are marketed as tobacco-free, but contain nicotine and have a high addictive potential.
Jan.13 by 2FIRSTS.ai
2Firsts Breaking | FDA to Hold PMTA Roundtable for Small ENDS Manufacturers, Spotlighting Small Business Applications
2Firsts Breaking | FDA to Hold PMTA Roundtable for Small ENDS Manufacturers, Spotlighting Small Business Applications
The FDA’s Center for Tobacco Products (CTP) will hold a PMTA roundtable on February 10, 2026, for small electronic nicotine delivery systems (ENDS) manufacturers, seeking input on PMTA submission experiences and recommendations for streamlining and improving the review process.
Dec.24
BlackRock Enters Top Shareholder Ranks as KT&G Holding Reaches 5.01%
BlackRock Enters Top Shareholder Ranks as KT&G Holding Reaches 5.01%
BlackRock increased its stake in KT&G to 5.01% after purchasing 68,646 shares, bringing total holdings to 5,914,169 shares and triggering Korea’s large-shareholding disclosure rules. KT&G shares climbed to an all-time intraday high of 153,900(about US$106.19) won and closed at a record 152,900(about US$105.50) won. KT&G is set to report earnings on Feb. 5, with consensus pointing to year-on-year growth in revenue and operating profit.
Jan.30 by 2FIRSTS.ai
Novosibirsk Governor: Targeted Vape Restrictions More Effective Than Full Ban
Novosibirsk Governor: Targeted Vape Restrictions More Effective Than Full Ban
Novosibirsk Region Governor Andrey Travnikov said during a live Q&A session that local authorities have no plans to impose a full ban on the sale of vapes and disposable e-cigarettes. He argued that a regional ban would be ineffective and could encourage gray market activity and cross-border resale.
Dec.12 by 2FIRSTS.ai
Thailand Seizes Over 42,000 Illegal Vapes Worth USD 340,000
Thailand Seizes Over 42,000 Illegal Vapes Worth USD 340,000
Thai authorities announced the seizure of more than 42,000 smuggled vapes worth approximately THB 10.87 million (USD 340,000).
Dec.12 by 2FIRSTS.ai