$700M from tobacco industry
PA Wellington Tobacco manufacturing and sales contributes more than $7OO million to the public fund each year, a report on the economic impact of the New Zealand tobacco industry shows. "The principal sources of this revenue corhe from excise and specific duty ($597 million), GST ($B9 million) and $29 million from other taxes including personal and company tax,” the executive director of the Tobacco Institute, Mr Michael Thompson, said. The report, said the revenue of $715 million was sufficient to more than fund individual Government departments. The report gives examples of the Department of Labour ($419 million), Justice ($529 million), Police ($475 million) and Inland Revenue ($6BO million including family support). "In 1988 the tobacco industry contributed 1.35 per cent of the country’s total gross domestic product,” Mr Thompson said. “Any single consumer product which contributes over 1 per cent of GDP. is a major influence on a country’s economic viability,” he said. v
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Press, 29 July 1989, Page 30
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158$700M from tobacco industry Press, 29 July 1989, Page 30
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