Vaping Could Save £Billions

Date:

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.”

Read full article here.

Dave Cross – Planet of the Vapes – 2023-02-13.

Want More Investigative Content?

Curate RegWatch
Curate RegWatchhttps://regulatorwatch.com
In addition to our original coverage, RegWatch curates top stories on issues and impacts arising from the regulation of economic, social and environmental activity in Canada and the U.S.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

MORE VAPING

Real Threat | Health Minister Unravels Canada’s Tobacco Strategy | RegWatch

Canadian Federal Health Minister Mark Holland is launching a crusade against safer nicotine products, driven by the uncompromising stance of non-profit health groups vehemently...

Vaping Coverage Get it NOW!

Sign Up for Incisive Content!

RegWatch original video is designed to move opinion. Get our videos first and be the first to share.

Your Information will never be shared with any third party