how dangerous is tobacco Health effects of smoking Most smokers now wrongly believe

Policy Considerations Revenue from the cigarette tax is declining when adjusted for inflation and population size, as shown by an analysis of per-capita revenue from 2001 to 2014, after a spike coinciding with tax rate increase passed in 2003: Cigarette tax revenue could be declining for two reasons

Long-Term View of the Business Despite an increasingly turbulent external environment, the fundamentals of the tobacco and nicotine sector remain attractive, and the Board believes BAT is in a strong position to realise its potential

This can further compromise lung function and exacerbate COPD symptoms

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