Canberra has a ciggie butt brain

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Is there anything our government does right?

Having single-handedly created a monster black market valued at $5.6 billion (ranging from $4.1 billion to $6.9 billion), Canberra now wants to take a piece of the action.

Up to 1.5 million Australians are predicted to be buying cigarettes on the black market in what has been described as a “national ­catastrophe” that risks smoking rates going up for the first time in more than 30 years and jeopardising future budget investments.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.