Tobacco taxes birth organised crime wave

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The Australian Association of Convenience Stores has reported that tobacco sales were down 19.8% in the June quarter, following a 13.7% decline in the March quarter.

AACS CEO Theo Foukkare claims that legitimate tobacco retailers are suffering because of government failure to crack down on the trade of black market vaping and tobacco products, claiming that over 90 million illegal vapes came into Australia in 2022.

“The state of illegal tobacco and the vape black market in Australia is now unfortunately a national embarrassment”, Foukkare said.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.