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The Briefing
Record house prices + How our gov let $7 billion go up in smoke
Mar 31, 2025
Rohan Pike, a former Australian Federal Police officer who led an illicit tobacco task force, shares his insights on the hidden costs of Australia's rising house prices and the out-of-control illegal tobacco market. He discusses alarming trends connecting soaring property values to increased criminal activity and examines how high tobacco taxes are driving consumers to the black market. Pike emphasizes the dire need for policy reforms to address the $7 billion revenue loss and combat violent crime linked to illicit tobacco sales.
22:33
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Quick takeaways
- The surge in illegal tobacco trade is largely driven by high government taxes, which push consumers towards cheaper, illicit options.
- The expansion of the illegal tobacco market not only results in significant economic losses but also contributes to rising violence and public safety concerns.
Deep dives
The Growth of the Illegal Tobacco Industry
The illegal tobacco industry is rapidly expanding, with more individuals seeking cheaper alternatives to legal tobacco products. This surge can be attributed to exorbitant excise taxes imposed by the government, driving consumers towards the black market where prices are significantly lower. The environmental and economic costs of this trade are substantial, including a dramatic revenue loss for the government estimated at nearly $7 billion. Violent crimes associated with the illicit tobacco market are rising, highlighting the urgent need for policy reform and enforcement measures to curb this expanding issue.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode