How the Chancellors Budget has Affected Tobacco 2023

The Chancellors' Annual Budget was released on 15th March 2023, and as expected, we've seen a drastic increase in taxes on Tobacco products. Tobacco is often in focus during the Budget, so this rise comes without much surprise. 

Why are the prices of Tobacco and Cigarettes increasing?

Cigarette and tobacco prices in the UK are increasing due to the government's policy, of seemingly, yearly price hikes, which occur in March during the annual Budget. The goal of this policy is to discourage smoking and improve public health by reducing the prevalence of smoking and its associated health risks in the UK. The government's decision is supported by studies that show a correlation between higher tobacco prices and decreased smoking rates. In addition, the intention is to discourage new smokers from starting, encourage current smokers to quit, and reduce the burden of smoking-related illnesses on the National Health Service (NHS).

Additionally, the increased tobacco taxes generate revenue that is allocated towards public health initiatives such as smoking cessation services, educational campaigns, and long-term smoking research. This policy creates a financial disincentive for smokers and funds proactive measures to help individuals quit smoking. However, at this time, when the general public is feeling many price rises elsewhere, the duty increase is a further burden on consumers' wallets. 

When will the new prices come into effect?

The government issued the price increase on all new stock from Wednesday 15th at 6 pm, as a result, most retailers will have increased their prices immediately. 

At Bull Brand, one of our commitments is not to profiteer from customers. With this in mind, we keep our prices frozen whilst pre-paid duty stock is available. However, once this is exhausted, we will be forced to apply the duty increases to our tobacco products. Once the increases are applied, we will continue to keep our prices at Recommended Retail Pricing (RRP) as recommended by the Manufacturers. 

At Bull Brand, we keep our customers at the centre of our operation; we act with their best interests in mind; from our service offering to our price commitments, we will consistently deliver the products they want at a market-leading price point. 

Can I buy cheap cigarettes online?

Buying online is one of the most efficient ways to stock up on cigarettes and tobacco. Pre-made cigarettes are naturally more expensive than other forms of smoking; in essence, you're paying for the convenience of a finished product. 

However, those smokers that choose to roll or make their own cigarettes can find that their smokes cost nearly 30% less than ready-made cigarettes. Adjusting the amount of tobacco per cigarette can help cut down on unnecessary tobacco usage; additionally, rolling or making your own allows you to customise the type of paper and filter you use. This is one of the easiest ways to find the perfect combination of elements that create your smoke.