France's proposed new sugar tax could transform the biggest food companies—will the consumer pay the price? [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Nutritional taxes are gaining favor The WHO currently recommends that countries use nutritional taxing to combat the increase in chronic diseases like diabetes and obesity, and many institutions like the World Bank are also arguing the same. The Institut Montaigne , a liberal think tank, plus the CEOs of Coopérative U, BEL (Babybel, Laughing Cow), and Sodexo, recently advocated to raise VAT to 20% for very sweet products, compared to the current 5.5% or 10%. Or, to help one in five obese adults in France, they suggested that the government could levy a tax on products that don't meet sugar levels as agreed upon by government ministries. They're thinking specifically of sweets, chocolate, biscuits, breakfast cereals, spreads, and industrial pastries. The Institut suggests that the money raised by these measures, equalling €1.2 billion and €560 million a year, could finance a food voucher worth €30 a month for the 4 million poorest French people. Recommended Stories
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