More smoke, but less revenue as cigarette smuggling soars
Article Abstract:
There has been an increase in adult smoking and a decrease in legitimate cigarette sales in the United Kingdom, which implies a rise in imports. There were 10.5 million adult smokers in the UK in 1998, according to Gallaher, a rise of 500,000, and the first rise for over 20 years. Gallaher estimates that bootlegged cigarettes represent over 8% of sales, and imports from UK citizens who have been abroad account for 15% of the market. This represents an increase in smuggling which could worsen if duty on tobacco products is increased.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Smoking suit bandwagon
Article Abstract:
UK health authorities may take legal action against tobacco companies following a US deal settling claims to tobacco-related illnesses. The cost of treatment for such illnesses is estimated at 610 million pounds sterling in the UK, according to the British Medical Association. US companies are taxed less and the US legal system helps plaintiffs more than the UK system. Tax is not relevant to the issue of treatments for these illnesses, according to the chief executive of Croydon Health Authority.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Tobacco - bad for your wealth?
Article Abstract:
Tobacco stocks could see a fall in price due to legal action in the US and investigations in Britain on smuggling of tobacco products and health risks linked to smoking. Tobacco firms face problems from the regulatory environment.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2000
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