Britain will introduce a sugar levy on soft drinks in two years' time to tackle a growing obesity crisis, Chancellor George Osborne said in a surprise announcement on Wednesday, hitting share prices in drinks and sugar firms. Just months after the government ruled out a sugar tax, Osborne said the planned levy, which would be imposed on companies and based on the sugar content in drinks, would raise 520 million pounds. “Of course, some may choose to pass the price onto consumers and that will be their decision, and this would have an impact on consumption too,” Osborne told parliament during his annual budget speech.
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Britain unveils plan for sugar tax on soft drinks industry