Center for Global Development: New High-Level Report Calls for Higher Taxes on Tobacco, Alcohol, and Sugary Beverages to Prevent Millions of Deaths
William Savedoff, senior fellow at CGD, discusses five key messages from a report by the Task Force on Fiscal Policy for Health calling on governments to raise taxes on tobacco, alcohol, and sugary beverages: “1. Tobacco, alcohol, and sugary beverages consumption accounts for a large and growing share of premature death and disease, especially in low- and middle-income countries. … 2. Raising the price of tobacco and alcohol by increasing excise taxes reduces consumption and saves lives, while generating additional tax revenues. … 3. The economic rationale for raising excise taxes on tobacco, alcohol, and sugary beverages is well-established. … 4. Implementing taxes on products that harm health is a test of government effort and resolve. … 5. Raising taxes on tobacco can do more to reduce premature mortality than any other single health policy” (4/10).