New Brunswick Cigarette Prices Rising about 65 Cents Per Pack
The New Brunswick government is reminding residents that the tax rate on tobacco will increase by 3.26 cents on February 1.
"Taxes on tobacco are imposed to discourage smoking and to help pay for the additional costs smoking imposes on our health system,” said Finance Minister Cathy Rogers. “The revenue generated by this increase will contribute to investments in the priority areas of health care, education and job creation.”
Rogers says the tax rate applied to tobacco products in New Brunswick is being increased by 6.52 cents per cigarette over two years. Last February, an initial increase of 3.26 cents was applied, bringing the tax rate from 19 cents to 22.26 cents. As the second step, The February rate will increase by an additional 3.26 cents to 25.52 cents.
The increase works out to a little over 65 cents per pack.
Rogers says it's estimated the increase will generate about $25 million in additional revenue once fully implemented.