Britain's opposition Labour party pledges tobacco levy if it wins power next year

Reuters News
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Posted: Sep 23, 2014 9:26 AM

MANCHESTER England (Reuters) - Britain's opposition Labour party said on Tuesday it would introduce a U.S.-style "sin tax" on tobacco manufacturers if it wins a national election next year.

The fee, which was unveiled ahead of Labour leader Ed Miliband's speech to his party's annual conference, would be based on firms' market share and would be aimed at raising at least 150 million pounds, the party said in an advance briefing note.

(Reporting by William James; Editing by Andrew Osborn)