Tax Revenues

  • Annual Tobacco Duty revenues of around £9.5 billion and £2.5  billion of VAT give combined revenues of £12 billion.

 

  • The £12bn is enough to pay for 522,181 new teachers or 399,778 new firefighters or 376,975 new police officers

 

  • Tobacco tax revenues over the course of the Coalition Government amounted to £60bn

 

 Tobacco Tax Revenues (£bn)2010-112011-122012-132013-142014-152015-16
Excise Revenue9.19.69.79.59.59.5
VAT2.22.62.62.52.52.5
Total11.312.212.312.012.012.0

 

  • Whilst tobacco tax revenues deliver significant sums to HM Treasury, the OBR have consistently revised down revenue forecasts as excise increases fail to deliver the expected additional returns, The forecasts can be viewed here: OBR Forecasts (November 2016)

 

(1) TMA calculation

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