Ministers consider new vaping tax at Budget

The government is considering announcing a new tax on vapes at the Budget next week. The government first said it was considering a vaping levy at November's King's Speech, citing a "Significant differential" with tax on tobacco. According to the Times, which first reported the story, the new duty will be levied on the liquid in vapes, with higher tax rates for products with more nicotine. Treasury analysis suggests the new vaping tax, along with the rise in tobacco duty, could eventually raise around £500m a year. Next week's Budget will see the government unveil its tax and spending plans for the year ahead amid the backdrop of sluggish economic growth.

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