LIVE: Chancellor Rachel Reeves delivers the 2024 Budget statement
THE price of a pack of cigarettes will rise after a hike was confirmed in the government's Autumn Statement.Working people are in desperate need of good news when Reeves delivers Budget
Speaking in The Commons, Ms Reeves said: "I can confirm that the government will renew the Tobacco Duty escalator for the remainder of this Parliament at RPI+2% and increase duty by a further 10% on hand-rolling tobacco this year." The average price of of 20 king size filter cigarettes stood at £15.88 in September, according to the ONS.Six reasons HMRC can stop your child benefit payments - and how to avoid them
When the tax is raised, the cost is passed on to consumers who have to pay more for tobacco products in the shops.previous increase was revealed earlier this year in MarchThe RPI is a measure of inflation that's published monthly and is used to measure the change in the cost of retail goods and services.
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.RACHEL Reeves will be grilled in a special Budget edition of The Sun’s Never Mind The Ballots show today.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2024 LIVE as Rachel Reeves announces changes to tax and public spendingIt's the first Labour budget in 14 years
Read more »
Thousands of Brits get extra cash as Chancellor reveals huge carers allowance shakeup in Budget...LIVE: Chancellor Rachel Reeves delivers the 2024 Budget statement
Read more »
Live: Rachel Reeves set to deliver first budget with tax hikes expectedRachel Reeves will deliver Labour's first budget in 15 years as tax hikes are expected.
Read more »
Budget 2024 LIVE: Rachel Reeves prepares to deliver Labour's first Budget in 14 yearsRachel Reeves will make history as the UK’s first female Chancellor when she delivers the Labour Party's Budget today - follow live updates here
Read more »
Pay rise for millions Rachel Reeves announces in autumn budget as minimum wage to go up £1,400 a year...LIVE: Chancellor Rachel Reeves delivers the 2024 Budget statement
Read more »
Budget 2024 LIVE as Rachel Reeves set to announce tax hikes to help fund NHS investmentThe Labour Chancellor is expected to hand billions of pounds to the health service when she announces the UK Government's long-awaited Budget later today.
Read more »