Latest news with #sugarydrinks
Yahoo
2 days ago
- Health
- Yahoo
Correction to June 18 story on study of Newfoundland and Labrador's 'sugar tax'
In a June18 story about a study examining Newfoundland and Labrador's tax on sugar-sweetend beverages, The Canadian Press erroneously reported that 24 per cent of survey respondents said they were less likely to buy sugary drinks. In fact, survey respondents had 24 per cent lower odds of drinking taxed sugary drinks in any given week. This report by The Canadian Press was first published June 19, 2025 The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
14-06-2025
- Business
- CNA
Vietnam parliament approves hiking tax on alcoholic drinks to 90% by 2031
HANOI: Vietnam's National Assembly on Saturday (Jun 14) approved a proposal to raise the special consumption tax on alcoholic beverages to 90 per cent by 2031 from the current 65 per cent, a move that will add to challenges facing the industry even though the top rate won't be as high as first flagged. Under the legislation, the tax rate on beer and strong liquor will rise to 70 per cent by 2027, a year later than initially proposed, before reaching 90 per cent in 2031. Vietnam currently imposes a 65 per cent tax on these products and the initial proposal last year had the tax rising to as high as 100 per cent. The finance ministry has said the aim of the higher taxes is to curb alcohol consumption. Vietnam is Southeast Asia's second-largest beer market, according to a report by consultancy KPMG in 2024. Vietnam's beer industry, led by Dutch brewer Heineken, Denmark's Carlsberg, and local brewers Sabeco and Habeco, has already faced challenges from stringent drink-driving laws introduced in 2019, which set a zero-alcohol limit for drivers. The country's Beer and Alcoholic Beverage Association chief has said industry revenue has declined for the past three years. In response to weakening demand and the initial proposal for the tax hike, Heineken last year suspended operations at one of its Vietnam breweries. On Saturday, the lawmakers also approved a new levy of 8 per cent on sugary drinks exceeding 5g/100ml of sugar that will take effect in 2027 and rise to 10 per cent in 2028.
Yahoo
14-06-2025
- Business
- Yahoo
Vietnam parliament approves hiking tax on alcoholic drinks to 90% by 2031
HANOI (Reuters) -Vietnam's National Assembly on Saturday approved a proposal to raise the special consumption tax on alcoholic beverages to 90% by 2031 from the current 65%, a move that will add to challenges facing the industry even though the top rate won't be as high as first flagged. Under the legislation, the tax rate on beer and strong liquor will rise to 70% by 2027, a year later than initially proposed, before reaching 90% in 2031. Vietnam currently imposes a 65% tax on these products and the initial proposal last year had the tax rising to as high as 100%. The finance ministry has said the aim of the higher taxes is to curb alcohol consumption. Vietnam is Southeast Asia's second-largest beer market, according to a report by consultancy KPMG in 2024. Vietnam's beer industry, led by Dutch brewer Heineken, Denmark's Carlsberg, and local brewers Sabeco and Habeco, has already faced challenges from stringent drink-driving laws introduced in 2019, which set a zero-alcohol limit for drivers. The country's Beer and Alcoholic Beverage Association chief has said industry revenue has declined for the past three years. In response to weakening demand and the initial proposal for the tax hike, Heineken last year suspended operations at one of its Vietnam breweries. On Saturday, the lawmakers also approved a new levy of eight percent on sugary drinks exceeding 5g/100ml of sugar that will take effect in 2027 and rise to 10% in 2028. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
09-06-2025
- Health
- The Independent
The drink that's linked to higher rates of diabetes than candy bars
A study by Brigham Young University and German institutions indicates that drinking sugary beverages, like soda, may be more harmful for your health than eating sugary foods. The research found a consistent link between drinking sugar and a higher risk of type 2 diabetes, with each additional 12-ounce serving of soda or sugary drinks increasing the risk by 25%. The lead author, Karen Della Corte, suggests that liquid sugars overwhelm and disrupt liver metabolism due to their isolated nature, leading to increased liver fat and insulin resistance. Unlike sugary drinks, dietary sugars found in nutrient-rich foods like fruits and whole grains do not cause metabolic overload due to the presence of fiber, fats, and other beneficial nutrients. The study suggests that dietary guidelines should differentiate between sugar sources, with more stringent recommendations for liquid sugars found in sugar-sweetened beverages and fruit juice.
Daily Mail
30-05-2025
- Business
- Daily Mail
Australian Labor considers new tax measures affecting many citizens
A Labor MP has issued a call for a new tax on sugary drinks such as Coke, fruit juices and sports drinks - a year after a controversial national inquiry into the diabetes epidemic recommended the levy. Dr Mike Freelander, MP for the federal seat of Macarthur on Sydney's south-western edge, told Daily Mail Australia this week that he supports a levy on sugar-sweetened beverages. Dr Freelander, a medically-trained doctor, called on Prime Minister Anthony Albanese to support a proposal, pushed by a parliamentary inquiry he chaired, to force beverage producers to make healthier drinks. The 20 per cent tax would also raise an additional $1.4billion of government revenue over four years - coming at a time where tobacco excise collection dropped almost $5billion this financial year. 'The levy is a way to encourage manufacturers to reduce sugar content in their products and there is increasing global evidence of the benefits on community health and wellbeing,' said Dr Freelander, a backbencher. Sugar-sweetened beverages are defined as water-based drinks with added caloric sweeteners such as sucrose, high-fructose corn syrup, or fruit juice concentrate. The tax would include soft drinks, sports drinks, fruit drinks, energy drinks, cordials and drinks made with added fruit juice concentrate. A number of Coalition members of the diabetes inquiry committee opposed the introduction of a levy in the final report. Deputy chair of the committee Julian Leeser (pictured), Liberal MP for Berowra, said the tax would disproportionately fall upon Australia's lowest earners. 'People are doing it tough and struggling to pay bills and put food on the table,' he told the Sydney Morning Herald last year. 'There's also a real issue about whether a sugar tax would change behaviour.' Dr Freelander's (pictured)comments come as a new study showed public support for a sugar tax. The study was published in the Australian and New Zealand Journal of Public Health on Wednesday and led by professor Caroline Miller, president of the Public Health Association of Australia (PHAA). More than half (56 per cent) of the study's 1800 respondents supported a health levy tax on sugary drinks in line earlier research from 2017. Dr Miller said sugary drinks were a significant contributor to obesity - a disease which has overtaken cancer as the leading cause of Australia's preventable disease burden. She said Australia is facing a serious public health issue, one that warrants a policy approach defined by 'strong leadership'. Critics of the sugar tax claim dietary choices should be left to the individual and that lower-earning Australians would be hardest hit by the levy. The Australian Beverages Council has led the opposition against the sugary drinks tax - claiming declining consumption rates suggested something else was to blame. 'The tax is a misguided attempt to address a complex problem like obesity that lacks real world evidence it has any discernible impact on weight,' Geoff Parker, chief executive of the Council said in a statement last year. 'Consumption of sugar from drinks in Australia has decreased significantly over the last 20 years at the same time overweight, obesity and diabetes rates have continued to rise. Clearly soft drinks aren't driving the nation's expanding waistline which makes this call for a tax illogical and clearly just a revenue raiser for public health groups.' Sugar taxes are already in place in a number of European and American countries including the UK, France, Norway, Mexico and Chile. One study suggested the daily sugar intake of UK children fell by five grams within a year of the tax being introduced in 2018, while adults cut their intake by 11 grams. But chief executive of the PHAA Terry Slevin said the study proved there was 'genuine community concern about unhealthy drinks'. 'Health Minister Mark Butler and the Albanese government have implemented strong and effective measures to curb smoking and vaping, we believe similarly decisive action is needed to tackle obesity. 'We know what needs to be done, now is the time to do it.' The Australian Medical Association, the peak representative body for doctors in Australia, advocates for a tax of $0.40 per 100 grams of sugar.
