Canadian federal budget increases tobacco and vaping taxes by $1.7B to cover a new $1.5B drug plan for contraceptives and diabetes meds.
The Canadian federal budget plans to increase tobacco and vaping taxes by $1.7 billion, which will offset the launch of a new $1.5 billion drug plan offering universal coverage for contraceptive and diabetes medications. Both programs were billed as new health measures in the budget. The higher taxes on tobacco and vaping are expected to generate $1.7 billion in new revenue.
April 16, 2024
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