Vape Tax Sparks Price Hike Fears

The price of vapes is expected to rise following the introduction of a new Vaping Product Duty. This tax is set at £2.20 per 10ml of e-liquid, with the government's stated intention to reduce the appeal of vaping among children and young people. The duty applies to all vaping products, irrespective of their nicotine content. However, consumers may not see an immediate price increase, as sellers have a six-month window to sell existing stock at the pre-duty price.

This fiscal measure comes amid growing evidence of the adverse health effects of vaping, particularly on younger demographics. The vaping industry has expressed opposition, contending that the availability of affordable vapes is crucial for individuals seeking to quit smoking. In parallel, tobacco taxes were also raised by £2.20 per 100 cigarettes or 50g of tobacco, a move HMRC stated is intended to maintain the financial incentive for smokers to transition to vaping.