Anti-smoking charity Action on Smoking and Health has made a Spring Budget submission to the Government and provided a cost benefit analysis that would result by achieving Smokefree 2030.
Funding for the submission came from the British Heart Foundation , Cancer Research UK, and the Department of Health and Social Care.
ASH and SPECTRUM published the budget representation and Cost Benefit and Public Finances analysis, detailing the cost of smoking and the benefits of investing £125 million a year to deliver the Government’s Smokefree 2030 ambition. The quantity of money was recommended last year in the Independent Khan review.
Key findings from the CBPF report
- The cost of smoking to public finances (£21 bn) is nearly double the revenue raised by tobacco taxes (£11 bn)
- Spending £125 million a year to deliver a smokefree 2030 could provide a net benefit to public finances of £5.3 billion by 2030
- A cost-benefit analysis of this investment found a net benefit to society over 50 years of £775.7 billion
Action on Smoking and Health says: “This Budget representation sets out the economic benefits from achieving the Government’s ambition of a smokefree England by 2030, which will increase government revenues, grow the economy, increase employability, deliver a net benefit to public finances and mitigate the cost of living crisis for some of the most disadvantaged in society.”
Dave Cross – Planet of the Vapes – 2023-02-13.