New study reveals the true cost of smoking...you'll be shocked by the findings
Researchers at UCT have come up with an actual figure revealing the true cost of smoking in South Africa.
For every cigarette a person smokes, the government actually loses about R3.4 - so it's not good business for the government to be involved in.Dr Hana Ross, Research Unit on the Economics of Excisable Products (REEP) - UCT
Looking at a range of factors including increased healthcare costs, productive lives lost, and productive days lost due to illness they calculated the economic cost to the country to be R42 billion.
So with the cost to government and the taxpayer so high, why not just ban tobacco?
Dr Hana Ross explains why prohibition is not the answer:
It doesn't work. The best solution at this point to save money is to increase tax.Dr Hana Ross, Research Unit on the Economics of Excisable Products (REEP) - UCT
We have seen during the ban that smokers are prepared to pay a much higher price for cigarettes.Dr Hana Ross, Research Unit on the Economics of Excisable Products (REEP) - UCT
So instead of the money going to smugglers, this money should go to government.Dr Hana Ross, Research Unit on the Economics of Excisable Products (REEP) - UCT
Click here to read the complete UCT study on the cost of smoking.
Listen to the full conversation on the true cost of smoking by clicking below:
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