Slovakia’s parliament has recently approved a new law aimed at increasing the price of sugary drinks and tobacco products in an effort to reduce the country’s budget deficit. The legislation, which was passed with a majority vote, is expected to generate additional revenue for the government while also promoting healthier consumption habits among the population.
The new law will see a tax increase on sugary drinks, as well as a hike in excise taxes on tobacco products. This move is part of the government’s broader strategy to address public health concerns related to excessive sugar and tobacco consumption, while also boosting the state’s finances.
The decision to raise taxes on these products comes at a time when the Slovak economy is facing challenges due to the impact of the COVID-19 pandemic. With the country’s budget deficit on the rise, government officials believe that increasing taxes on sugary drinks and tobacco products will not only help generate additional revenue but also contribute to improving public health outcomes in the long run.
The new law is part of Slovakia’s ongoing efforts to implement measures aimed at reducing the prevalence of lifestyle-related diseases and promoting healthier lifestyles among its citizens. By discouraging the consumption of sugary drinks and tobacco products through price increases, the government hopes to incentivize individuals to make healthier choices while also addressing budgetary concerns.
Overall, the passing of this legislation reflects Slovakia’s commitment to tackling both economic and public health challenges through targeted policy measures. As the country looks towards a post-pandemic recovery, the new law is expected to play a significant role in supporting both fiscal stability and improved health outcomes for its population.
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