LONDON, October 29, 2018
LONDON, October 29, 2018 /PRNewswire/ --
Commenting on the news that the Chancellor has once again increased tobacco taxes at the Budget, Giles Roca of the Tobacco Manufactures' Association commented:
"Tobacco taxes have increased by 80% since 2010. Today's announcement will simply encourage more smokers to avoid paying UK tax by purchasing their tobacco from abroad or via the black market. The Treasury lost £2.5 billion in tobacco tax in 2016/17, whilst the respected Office for Budget Responsibility said last year that increasing tax on cigarettes would no longer raise more money as the point of income maximisation had been reached. The most effective way to get smokers to quit is not high tax but the development of new products such as e-cigarettes."