FEAR & GREED | Business News Tobacco excise backfires; households spend up; Spotify’s artist rankings
Dec 4, 2025
Cigarette and vape taxes are driving a surge in illicit sales, raising public health concerns. Meanwhile, household spending sees a significant jump, impacting Reserve Bank decisions. The Australian housing target faces likely failure, with experts expressing doubts. On a lighter note, Spotify unveils its most-played artists and tracks, showcasing a mix of global and local talent. Lastly, Thailand eases alcohol restrictions to boost tourism, adding a twist to travel plans.
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Tobacco Taxes Reached Diminishing Returns
- Heavy tobacco taxes have backfired by incentivising a booming illegal market and hurting legitimate retailers.
- The black market's low prices threaten smoking reductions and public health gains.
Young People Are Smoking More Again
- Youth smoking and vaping rates have risen, undermining long-term reduction targets.
- Illegal tobacco lacks health warnings and individual cigarette labels, weakening demand-side deterrents.
Focus On Demand And Border Control
- Strengthen demand reduction measures like public health campaigns to curb smoking.
- Consider border crackdowns because much illicit tobacco appears to be imported from overseas.