IGA CEO calls for cut to tobacco excise as illicit market share grows
IGA has reportedly lost over $150 million in legal cigarette sales over three years as customers struggling with the cost of living crisis move to the illicit tobacco market.
Chief executive officer Fred Harrison says the illicit market share has grown to around 40 per cent as he argues for a cut to the tobacco excise.
“In fairness, it was an unintended consequence … I don’t think we ever pictured illicit getting to this point but as the years have gone on there’s almost been a 10 per cent increase in excise every year for the past 10 years,” he told Heidi Murphy, filling in for Jacqui Felgate.
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