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Friday, Jan 03, 2025
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(Budget 2023-24) Hong Kong to bump up cigarette price from HK$62 to at least HK$74
Financial secretary Paul Chan Mo-po proposed on Wednesday increasing the duty on cigarettes by 60 cents per stick with immediate effect, meaning the price for a pack of 20 cigarettes will go up from the current HK$62 to at least HK$74.
Following the HK$12 increase in price, the tobacco duty for a pack of cigarettes will stand at HK$50.12, marking a jump of more than 30 percent.
And the price for a pack could reach HK$75 or HK$76 with increased manufacture costs.
Chan said the rise in cigarette price will increase the incentive of smokers to reduce or quit smoking, and authorities' target is to bring the smoking prevalence rate down from the current 9.5 percent to 7.8 percent.
The finance chief added the government will continue to review the overall effectiveness of tobacco control measures, and step up efforts to promote smoking cessation as well as law enforcement against illicit cigarettes.
Chan stressed smoking is hazardous to health and recalled that Hong Kong last increased the tobacco duty ten years ago, with its policy effect diluted gradually by inflation and various other factors.
He continued that currently, tobacco duty accounts for about 62 percent of the retail price of cigarettes in Hong Kong, far lower than the rate of 75 percent recommended by the World Health Organization (WHO).
And the price for a pack could reach HK$75 or HK$76 with increased manufacture costs.
Chan said the rise in cigarette price will increase the incentive of smokers to reduce or quit smoking, and authorities' target is to bring the smoking prevalence rate down from the current 9.5 percent to 7.8 percent.
The finance chief added the government will continue to review the overall effectiveness of tobacco control measures, and step up efforts to promote smoking cessation as well as law enforcement against illicit cigarettes.
Chan stressed smoking is hazardous to health and recalled that Hong Kong last increased the tobacco duty ten years ago, with its policy effect diluted gradually by inflation and various other factors.
He continued that currently, tobacco duty accounts for about 62 percent of the retail price of cigarettes in Hong Kong, far lower than the rate of 75 percent recommended by the World Health Organization (WHO).
