I beg to move,
That—
(1) In Schedule 1 to the Tobacco Products Duty Act 1979 (table of rates of tobacco products duty), for the Table substitute—
“TABLE
| 1
Cigarettes |
An
amount equal to the higher
of— 16.5% of the retail price plus £316.70 per thousand cigarettes, or £422.80 per thousand cigarettes. |
| 2
Cigars |
£395.03
per
kilogram |
| 3
Hand-rolling
tobacco |
£412.32
per
kilogram |
| 4
Other smoking tobacco and chewing
tobacco |
£173.68
per
kilogram |
| 5
Tobacco for
heating |
£325.53
per
kilogram”. |
(2) In consequence of the provision made by paragraph (1), in Schedule 2 to the Travellers’ Allowances Order 1994 (which provides in certain circumstances for a simplified calculation of excise duty on goods brought into Great Britain)—
(a) in the entry relating to cigarettes, for “£393.45” substitute “£422.80”,
(b) in the entry relating to hand rolling tobacco, for “£351.03” substitute “£412.32”,
(c) in the entry relating to other smoking tobacco and chewing tobacco, for “£161.62” substitute “£173.68”,
(d) in the entry relating to cigars, for “£367.61” substitute “£395.03”,
(e) in the entry relating to cigarillos, for “£367.61” substitute “£395.03”, and
(f) in the entry relating to tobacco for heating, for “£90.88” substitute “£97.66”.
(3) The amendments made by this Resolution come into force at 6pm on 22 November 2023.
And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.
As a country, we are in a very different position from the one we were in a year ago. Back then, the Office for Budget Responsibility and the Bank of England were predicting a recession, but we have had growth. Debt was predicted to rise almost 100% of GDP by the end of the forecast, but headline debt is now predicted to be more than 5% lower. Rather than falling, average real incomes have risen.
None of that happened by accident. It happened because of the difficult decisions we have made, which have turned the economy around. We have learned the lessons of what happened a year ago, but the Opposition have not. Today, we set out a plan for the economy that will grow our potential, reduce debt and reduce taxes, yet all Labour wants to do is reverse this progress by borrowing £28 billion. It is the same old Labour party.
Let me begin with what we have achieved.