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Tories plan to hit 2.9million with VAPE TAX to raise extra £40million for NHS
WHITEHALL sources say so-called ‘sin-taxes’, which are set to hit the UK’s 2.9million vapers in their pockets, will produce increases of £40million in this year’s autumn budget for the NHS.
By SAM STEVENSON
PUBLISHED: 00:42, Thu, Aug 2, 2018 | UPDATED: 02:24, Thu, Aug 2, 2018
So-called "sin taxes" are set to hit the UK's 2.9million vapers in their pockets (Image: GETTY)
The taxes are part of an initiative by the Treasury to find ways of funding the extra £20billion pledged to the NHS.
They would introduce the punitive measure to a recreational activity which claims to help people stop smoking.
Last night Chris Snowdon, of think tank the Institute of Economic Affairs, said a vaping tax would harm the UK’s health.
He said: “The UK’s liberal approach to vaping has become a model for the rest of the world.”
Supporters of vaping say it cuts cigarette consumption and therefore has a positive impact on public health.
Roughly half of regular users claimed they used e-cigarettes to curb their smoking habit.
Thirteen organisations, including Public Health England and Cancer Research UK, released a joint statement in 2015 on vaping, reporting that it was at least 95 percent less harmful to health than cigarettes.
Users of vaping and e-cigarette devices typically spend £275 a year of vaping fluid - a five percent tax would cost them £13.75 annually and raise almost £40million.
The UK Vaping Industry Association (UKVIA) is the UK’s leading forum for supporting, developing and promoting the £1billion vaping industry.
The UKVIA professes vaping will be known as a 21st-century success story.
The Association says it “fully supports responsible regulation that is in the best interests of consumers”.
However, it disputes the EU’s current approach of putting vaping products in the same bracket as tobacco.
The UKVIA is calling for an urgent review with industry involvement on the EU’s current position.
The average 20-a-day smoker spends more than £3,700 a year on cigarettes.
According to the Tobacco Manufacturers’ Association, the tax, both excise duty and VAT, raised through the sale of tobacco products continues to be a major source of revenue for the Government, contributing around £12billion annually.
On a typical pack of 20 cigarettes the total tax burden of £6.28 accounts for 82 percent of the recommended retail price (RRP) of £8.50.
Users of vaping and e-cigarette devices typically spend £275 a year of vaping fluid. (Image: GETTY)
And on some of the least expensive brands the total tax burden accounts for up to 90 percent of the RRP.
The Government’s policy of high-level taxation has resulted in taxes on tobacco products in the UK being among the highest in the world.
Credit: The Express
https://www.express.co.uk/news/uk/9...-cigarettes-treasury-NHS-autumn-budget-vaping
WHITEHALL sources say so-called ‘sin-taxes’, which are set to hit the UK’s 2.9million vapers in their pockets, will produce increases of £40million in this year’s autumn budget for the NHS.
By SAM STEVENSON
PUBLISHED: 00:42, Thu, Aug 2, 2018 | UPDATED: 02:24, Thu, Aug 2, 2018
So-called "sin taxes" are set to hit the UK's 2.9million vapers in their pockets (Image: GETTY)
The taxes are part of an initiative by the Treasury to find ways of funding the extra £20billion pledged to the NHS.
They would introduce the punitive measure to a recreational activity which claims to help people stop smoking.
Last night Chris Snowdon, of think tank the Institute of Economic Affairs, said a vaping tax would harm the UK’s health.
He said: “The UK’s liberal approach to vaping has become a model for the rest of the world.”
Supporters of vaping say it cuts cigarette consumption and therefore has a positive impact on public health.
Roughly half of regular users claimed they used e-cigarettes to curb their smoking habit.
Thirteen organisations, including Public Health England and Cancer Research UK, released a joint statement in 2015 on vaping, reporting that it was at least 95 percent less harmful to health than cigarettes.
Users of vaping and e-cigarette devices typically spend £275 a year of vaping fluid - a five percent tax would cost them £13.75 annually and raise almost £40million.
The UK Vaping Industry Association (UKVIA) is the UK’s leading forum for supporting, developing and promoting the £1billion vaping industry.
The UKVIA professes vaping will be known as a 21st-century success story.
The Association says it “fully supports responsible regulation that is in the best interests of consumers”.
However, it disputes the EU’s current approach of putting vaping products in the same bracket as tobacco.
The UKVIA is calling for an urgent review with industry involvement on the EU’s current position.
The average 20-a-day smoker spends more than £3,700 a year on cigarettes.
According to the Tobacco Manufacturers’ Association, the tax, both excise duty and VAT, raised through the sale of tobacco products continues to be a major source of revenue for the Government, contributing around £12billion annually.
On a typical pack of 20 cigarettes the total tax burden of £6.28 accounts for 82 percent of the recommended retail price (RRP) of £8.50.
Users of vaping and e-cigarette devices typically spend £275 a year of vaping fluid. (Image: GETTY)
And on some of the least expensive brands the total tax burden accounts for up to 90 percent of the RRP.
The Government’s policy of high-level taxation has resulted in taxes on tobacco products in the UK being among the highest in the world.
Credit: The Express
https://www.express.co.uk/news/uk/9...-cigarettes-treasury-NHS-autumn-budget-vaping
