From the FT this morning:
That's the Joy of Tax at work.
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Well fancy that 🙂
Tesco, to their credit, did it all months ago for their own label. But there is a long, long way to go. Only now is the NHS consulting (!!) on “Action to reduce
sales of sugar-sweetened drinks on NHS premises” https://www.england.nhs.uk/wp-content/uploads/2016/11/sugar-proposals.pdf
There’s a nice OECD paper out showing that cutting subsidies increases GDP. If right, and I’ve no reason to doubt their empiricism, it means cutting the subsidies to sugar producers would produce better outcomes than taxes incident on the consumers.
But the producers and land owners are rich, and the consumers are poor, so let’s hit them in the pocket instead. Thus spake the gospel of St Tory of the Shires.
Chemical sweeteners are cheaper.
http://www.sugar-and-sweetener-guide.com/sweetener-prices.html
And it seems highly likely to be equally harmful – part of the rather dubious joy of the sugar tax!
That’s a very nice title for a blog.