The price of a pack of cigarettes will increase after the Chancellor announced that he would raise tobacco duty for the first time since October 2021 BudgetDay2023
Yesterday it was predicted that tobacco duty would rise in line with retail price inflation which stands at 12.7 per cent, plus a minimum extra hike of 2 per cent. Under this, the average price of a 20-pack of cigarettes will increase by £1.15 from £10.65 to around £11.80.
Tobacco tax is a huge earner for the Government, bringing £10.7bn into the Treasury in 2022 and accounting for more than 1 per cent of the total tax collection.
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