The World Health Organization (WHO) is suggesting a significant price increase of at least 50% through excise duties by 2035.
This announcement came from a recent report, as reported by the DPA news agency.
The WHO believes that the additional revenue generated could be used to combat major non-communicable diseases like cardiovascular diseases, cancer, and type 2 diabetes. According to the report, implementing a one-time 50% price hike by 2035 could potentially prevent up to 50 million premature deaths over the next fifty years. These findings were released by the Healthcare Tax Policy Task Force, which is supported by Bloomberg Philanthropies.
This initiative is part of the WHO’s “3 by 35” campaign, which aims to raise $1 trillion over the next decade to reinvest in healthcare systems, education, and social welfare programs. The WHO emphasized that “the initiative is about reducing harmful consumption, saving lives, and generating critical public revenue.”
By using fiscal policy to discourage the consumption of health-damaging products, the WHO hopes that countries can alleviate the disease burden while also securing more sustainable funding for public services.
