Beef and Dairy Need to be Taxed More
November 8, 2016 International Tax Cooperation
On November 7th researchers from the Oxford University published the results of new research in the international journal Nature Climate Change, showing the level of extra taxes that need to be levied on common foods in order to compensate for the environmental impact that producing those foods has on the environment.
While the research focused on several staple foods, the standout results from the study were that beef should face a tax of as much as 40 percent, while milk and other dairy products should face taxes of approximately 20 percent.
It is expected that any taxes on stale food products will result in a disproportionately lower fall in consumption levels.
It is anticipated that the introduction of new taxes on common foods will result in improved diets, and increased levels of tax revenues for governments across the world.
Further, while improved diets will aid taxpayers’ health, the extra tax revenues will also help fund greater healthcare programs.