Gen Z is smoking and drinking less and that's cost the UK government $17 billion, says Bloomberg
Falling revenue from alcohol and tobacco could pose a headache for the Chancellor, Jeremy Hunt, who is trying to address a £27.6 billion deficit in Britain's public finances. The equivalent of the Treasury Secretary also facing falling tax income from gasoline and diesel taxes as more EVs are sold.
However, the analysis doesn't take into account the potential upside of falling alcohol and tobacco consumption in terms of reduced demand for the UK's public healthcare system. Alcohol-related harm is estimated to cost the National Health Service in England £3.5 billion a year.suggested the government was still coming off better from the current setup, with drinkers subsidizing non-drinkers to the tune of £6.5 billion .
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