UK driving out tobacco Interesting FACT. UK Government Policy on Tobacco As Of Today
The government is using the RPI of 5.4% (+2%), which is the Office for Budget Responsibility's forecast for the inflation rate in quarter two of 2024.
It means a 20 pack will rise by 7.4% - or £1.08.
The average price for a 20-pack of cigarettes in October was £14.59 - this will rise to £15.67 from 6pm ($26.77 Canadian)
Taxing tobacco is a huge revenue-raiser for the government, with £10.7billion collected in 2022, which was 1.2% of the total tax taken.
Mr Sunak, now Prime Minister, previously revealed he wants to make Britain "smoke-free" by 2040.
This policy is now in place which will result in no tobacco sales come 2040, what will the tobacco companies turn to. Mmm, I wonder.
The top 2 dividend stocks on the FTSE 100 are British American Tobacco (9.19% yield) and Imperial Brands (7.90 yield). The drive from big tobacco on government's globally will IMHO just add more catalyst to legalisation far and wide.
Long and strong