Business
Vape tax comes into effect - but prices won't rise yet
A new 'Vaping Product Duty' has officially come into force, imposing a tax of £2.20 per 10ml of e-liquid. The government's primary objective is to curb the appeal of vaping among children and young people by increasing costs. Despite the new legislation, consumers will not see immediate price hikes. Retailers have been granted a six-month grace period to clear existing stock at pre-duty prices. Meanwhile, tobacco taxes have also been increased to maintain the incentive for smokers to switch to vaping.