It’s hard to imagine how Canada’s new excise tax on nicotine vaping products won’t drive scores of people back to smoking.
When combined with the sales tax, the effective federal tax rate on most vaping products bloats to more than 50 percent over retail.
This massive increase in price pushes vaping products precariously close to the cost of smoking. Smokers lose a prime incentive to quit, and new vapers may abandon their effort and return to smoking.
Ian Irvine, Professor of Economics at Concordia University and Research Fellow at the C.D. Howe Institute, is joining us today to discuss the economic and social consequences of the new excise tax. Hear about the hundreds of millions of dollars in tax revenue Canadian vapers are sending to Ottawa and the colossal damage facing the Canadian vaping industry after a half-billion-dollar revenue loss.
Only on RegWatch by RegulatorWatch.com
Released: October 14, 2022
Produced by Brent Stafford
Part of our “Last Stand” Canada coverage
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