THE price of a pack of cigarettes will rise after a hike was confirmed in the government’s Autumn Statement.
On Wednesday in the House of Commons, Chancellor Rachel Reeves revealed a range of plans relating to tax rises, benefits and pension payments.
The price of cigarettes is set to rise, it has been confirmed in the Autumn Statement[/caption]
Rachel Reeves has revealed her Autumn Statement in the Commons today[/caption]
The Autumn Statement provides an update on the government’s plans for the economy.
These are issued twice a year, once at the Budget in the spring and once at the Autumn Statement.
Ms Reeves presents the plans for the next year during a speech in the House of Commons.
Rolling tobacco and readymade cigarettes will both go up in price.
But the price of a pack of cigarettes is also set to go up.
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.
Tobacco duty rates automatically rise each year.
It is a tax charged to companies making or importing cigarettes in the UK.
When the tax is raised, the cost is passed on to consumers who have to pay more for tobacco products in the shops.
The price of cigarettes usually increases with inflation each year unless the Chancellor intervenes to freeze the rates.
The previous increase was revealed earlier this year in March, which saw the price of a pack of cigs increase to average of £16.
It followed a one-off increase of £2 per 100 cigarettes or 50 grams of tobacco.
The 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.
The chancellor also confirmed a ban on disposable vapes from JUne 2025.
WATCH RACHEL REEVES ON NEVER MIND THE BALLOTS
By Ryan Sabey, Deputy Political Editor
RACHEL Reeves will be grilled in a special Budget edition of The Sun’s Never Mind The Ballots show today.
Our Political Editor Harry Cole will put the Chancellor on the spot shortly after she’s finished delivering her crucial address in the House of Commons.
It will be available to watch on thesun.co.uk, YouTube and Sun social channels at 5.30pm.
Topics will include her decision on whether to spare motorists a fuel duty rise, and the expected eye-watering tax rises she will impose.
Since its launch earlier this year, NMTB has cemented its place at the heart of British politics.
During the General Election campaign The Sun was the only print publisher to host back-to-back grillings of Rishi Sunak and Sir Keir Starmer.
Footage from The Election Showdown has been viewed over 15 million times.
NMTB has also featured interviews with ex-PMs Boris Johnson and Liz Truss, as well as senior politicians Nigel Farage, James Cleverly, Wes Streeting, Steve Reed and Bridget Phillipson
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