BUDGET 2023 | Cigarettes and alcohol prices hiked

True to tradition, finance minister Enoch Godongwana has hit smokers and drinkers hard in the pocket.

Godongwana has increased sin taxes or excise duties by 4.9% for the 2023/2024 financial year.

This will see the price of a 340ml can of beer rising by 10c, with a 750ml bottle of unfortified wine now up by 18c.

A 340ml can of cider and other alcoholic fruit beverages will also cost 10c more.

Whisky connoisseurs and consumers of other spirits such as vodka and gin will pay an additional R3.90 for a 750ml bottle.

Cigar smokers have been the hardest hit in sin tax hikes, and will now pay R5.47 per 23g.

A packet of 20 cigarettes will go up by 98c, while a packet of 20 heated tobacco sticks will cost 73c more.

Customs and excise duties are a significant revenue stream for government, contributing R137.9bn to the next financial year’s budget.

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