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Priceless. Pretty much the argument Iain Macleod used in his short term as health minister for A Tory government. ‘We couldnt afford the loss of tax revenue from banning smoking’, just before he died from a fatal heart attack at the age of 57.
The really sad thing is that investigations of a link between lung cancer and smoking were initiated back in 1954. It was also suggested at that time that young people should be warned of the harmful effect of smoking.
The argument that a culling of the population by letting them continue smoking would deprive them of becoming ill from another illness later in life is an interesting one. The reality is that the cost to the NHS from respiratory illness and other diseases related to smoking far outweigh any other cost to the NHS. Apart from that the ideas and pr put into smoking by the tobacco industry is gross. The lies, cover ups and intimidation to protect their enormous wealth and power are obscene.
Part apart from that who doenst enjoy the occasional ciggie
How does it boost the economy? By reducing tax revenues? I guess the argument is it reduces the burden on the NHS, but if it means people live longer - they'll just have to be treated for other ailments.
Hi Shaun_LSE, Barclays opine that the Govt won't get this legislation through the two Houses given how fractured the Conservatives currently are and given that an Election is looming next year.... 14 year olds and younger can always get someone older to purchase the ciggies for them so I'm not sure how effective any legislation would be anyway.
UK to Ban Cigarette Sales to Young People Under New Law; London-listed Tobacco Stocks in Red
Oct 4, 202314:57 GMT+1
The UK government will introduce a new law that prohibits children aged 14 and below from buying cigarettes in England to phase out smoking among young people by as early as 2040.
As of mid-afternoon trading in London, shares of cigarette makers Imperial Brands
IMB
and British American Tobacco (
BATS
, BTI.JO) fell 2% and 1%, respectively.
The proposed legislation, which applies to anyone born on or after Jan. 1, 2009, is expected to boost the economy by up to 85 billion pounds sterling by 2075 and the health and care system's savings are expected to reach billions of pounds, according to a Wednesday release.
The government said the plan to create the first smoke-free generation will not criminalize smoking and is not expected to have any impact on individuals who can legally buy cigarettes now.
I've topped up today buying 100 @ 25.76 and then 100 @ 25.41.
Not a million miles off the 1 and 5 year lows.
At these lows I'm betting on a recovery back to 30+ by Jan 24.
Meanwhile, close to 9% div to sit on!
9% yield... Buy some more... yes please!
Madm0nk, the Div is 57.72p, the closing sp today is 2624.50p. After deduction of the Div tomorrow, assuming no other factors causing movement, the sp should be 2566.78p. How do you come by your statement 'Given it's going ex-divi tomorrow, I think a return to sub-2500p is almost an inevitability now...Shame.' please ?
I have been a holder of BAT for some time and they keep pumping out good results and very good Divi despite all the bad press and forecasts, yes we all know the future is not rosey in this industry but lets continue to make hay while the sun shines on those tobacco leaves. GLA
Please ignore the " from" that somehow found its way into the sentence.😃
I have recently bought into BAT, attracted by the obvious divi and also the potential to rebound from the currently low Sp, government scare stories not withstanding.
Personaly, I think medium term this has only one way to go, an that is up.
Bought a few more this morning from to benefit from the next Divi payment as I had received sone extra funds.
Time will tell.
Really? Another chance to buy.
I might add for clarification, as VAT is calulated on the total selling price of tobacco, it would be greater than 20% of tobacco duty.
British receipts from tobacco duty 10.2billion + VAT in 2023 - very substantial income stream.
I somehow doubt that Rishi will implement phasing out smoking.
@TheLoaf can you pls share the video or point me in the direction?
I'm not sure how much the selling price means, tbh.
I'd say the amount of tax is maybe more important.
My point being that yes, selling prices in the west are indeed high, but 80% or more of it is tax in the UK, for example.
If the ban was only in the UK it would not make much difference. to BAT·s profits, but the danger is that it may spread. to other. developed countries which sell at. high prices. The. emerging markets will always. be there. but the selling price s are lower than in Europe and the. USA.
In the UK
IMB takes the largest market share of the cigarette market , its more than half of the market . BATS market share is much smaller than IMB
Whats the market share of IMB im the UK cigaret market?
Me thinks slight over reaction on the share price today. Probably caused by Sunaks election winning proposal re smoking. Any opinions appreciated.
Just think how much revenue the treasury would lose if no oil or cigarettes were sold from tomorrow !
I'm not invested here, as i own IMB as my biggest holding (bought in the 1540p area).
Due to the cashflow generated by these tobacco companies & the subdued SP i'm certainly looking into adding BAT to my income PF.
I watched a video last night regarding several income stocks & their history of raising dividends & their ability to raise them further. Payout ratio & debt were covered & a fair value was given for each stock too.
BAT fair value was around the £80 - £90 range making it massively undervalued.
Obviously there's the stigma of smoking, but sales of vaping products are rocketing.
Will the government cut off hundreds of billions in tax revenue anytime soon ?
I don't think so, as it's on it's ar** financially already !
Clued .....great idea ,but don't forget the kids,
Barcode Birthmark then Childhood Chip fitted...
Roofer61, I can see a World in year 2150 where no-one smokes, no-one drinks alcohol, no-one consumes more than the 100% healthy amount of sugar, everyone exercises at least a minimum required amount, no-one takes any illegal drugs, there's a cashless society, there are face and id recognition CCTV's everywhere even in rural areas, patrol and online police monitor all we do, children are brain washed to pay allegiance to the State over family, wage levels and prices are State controlled, even our thoughts can be monitored and there's a new Crine category of Thought Crime. What a Wonderful World it'll be !!
Just when Sp starts moving up , can't argue against it though
https://www.lse.co.uk/news/sunak-reportedly-mulling-outlawing-cigarettes-for-next-generation-if21pbdw6dug12l.html
Fall in inflation should be good for us today, not that I intend selling anytime soon.