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Australia's Tobacco Tax Revenue Drops, Black Market Booms
Description
Australias tobacco tax revenue is projected to decrease by $5.4 billion over the next five years due to a surge in the black market, driven by high prices. State leaders, particularly New South Wales Premier Chris Minns, are intensifying efforts to combat illegal tobacco sales, while the federal government is allocating $20.3 million for enhanced policing and data collection. The battle against the black market is far from over as prices continue to rise.
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