financetom
World
financetom
/
World
/
Tax Money vs Health | New Zealand move to scrap world-first 'generational smoking ban' rekindles old debate
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tax Money vs Health | New Zealand move to scrap world-first 'generational smoking ban' rekindles old debate
Nov 28, 2023 8:58 AM

New Zealand's newly-appointed Prime Minister, Christopher Luxon, announced on Monday (November 27) the scrapping of the world-leading anti-smoking laws that were set to be implemented. The move, coming just six weeks after Luxon's conservative National Party secured victory in the national elections, has been met with both criticism and concern.

Luxon, a former airline executive, was sworn in as the head of the new coalition government in a ceremony held in the capital, Wellington. In his inaugural address, Luxon expressed his commitment to addressing economic challenges, prioritising the management of inflation and the reduction of interest rates.

However, he also confirmed the repeal of the "generational smoking ban" introduced last year, prohibiting the sale of tobacco to individuals born after 2008.

The decision to abandon the ground-breaking legislation, which had positioned New Zealand at the forefront of global efforts to combat smoking, has sparked controversy. Luxon defended his choice, emphasising the potential tax revenue from ongoing cigarette sales as a crucial source of income for the government. Additionally, he voiced concern about the emergence of a thriving black market for tobacco, driven by the ban.

Anti-smoking groups swiftly condemned the move, labelling it a significant setback for public health. The Health Coalition Aotearoa, representing a Maori perspective on the matter, decried the decision as "a major loss for public health" and accused Luxon's government of prioritising tobacco industry profits over the well-being of New Zealanders. The legislation, enacted by the previous Labour Party government under Jacinda Ardern, aimed to reduce the prevalence of tobacco use in the country.

While the smoking rate among adults in New Zealand is relatively low at 8%, the now-revoked legislation had ambitious goals of achieving a completely smoke-free future for the nation.

Critics argue that abandoning these measures not only undermines public health efforts but also contributes to a potential resurgence in smoking-related illnesses.

(Edited by : Shoma Bhattacharjee)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Morning Bid: A golden Fed cut
Morning Bid: A golden Fed cut
Sep 13, 2024
(Reuters) - A look at the day ahead in U.S. and global markets by Amanda Cooper. What a difference a day makes. Just 24 hours ago, investors were coming to terms with the idea that a half-point rate cut next week from the Federal Reserve was unlikely and a quarter-point drop was much more in line with a soft-landing scenario....
CANADA STOCKS-TSX posts biggest weekly gain in 11 months on Fed optimism
CANADA STOCKS-TSX posts biggest weekly gain in 11 months on Fed optimism
Sep 13, 2024
* TSX ends up 0.4% at 23,568.65 * For the week, the index gains 3.5% * Materials group rises to highest since April 2022 * 2-year yield falls to 2-year low (Updates at market close) By Fergal Smith Sept 13 (Reuters) - Canada's main stock index rose to an all-time high on Friday in a broad-based rally, led by mining...
TREASURIES-Yields fall, futures rally on whispers of outsized Fed rate cut
TREASURIES-Yields fall, futures rally on whispers of outsized Fed rate cut
Sep 13, 2024
SYDNEY, Sept 13 (Reuters) - Treasury yields fell in Asia on Friday while rate futures rallied in reaction to media reports suggesting the Federal Reserve's decision on whether to cut by 25 or 50 basis points next week would be a close call. Both the Wall Street Journal and the Financial Times reported it might be a line ball call...
GLOBAL MARKETS-Dollar droops, gold at record high as bets for big Fed cut ramp up
GLOBAL MARKETS-Dollar droops, gold at record high as bets for big Fed cut ramp up
Sep 13, 2024
* 50-bp Fed cut back on table after FT, WSJ reports * Odds on super-sized reduction ramp up to 41% from 28% * Dollar slides back towards 2024 low versus yen * Crude continues climb as Francine impact assessed (Updates prices as of 0155 GMT) By Kevin Buckland TOKYO, Sept 13 (Reuters) - The dollar on Friday slumped against the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved