The price of a 20-pack is set to soar after the Chancellor revealed a tax hike as part of the latest Budget.

Smokers will feel the pinch on their purse strings as the price of a packet of cigarettes will hit a huge £13.60 from tonight.

The increase sees the price of a 20-pack jump by 88p from 6pm this evening - October 27.

The cheapest cigarette option has risen from £9.10 for a 20 pack to £9.73 under the new rules.

It is not only cigarettes that will see an increase as rolling tobacco will also be affected - it goes up at a faster rate than readymade cigarettes.

The cost of a 30g bag will jump from £8.14 to £9.02 - a jump of 89p.

Man smoking cigarette
The cheapest cigarette option has risen by 63p.

Duty rates on all tobacco products will increase by RPI inflation plus 2% and hand-rolling tobacco by RPI plus 6%.

The Retail Price Index (RPI) currently sits at 4.9%, meaning cigarettes go up by 6.9% and rolling tobacco by a huge 10.9%.

However, tobacco duty was widely expected to rise today following two increases during the last year.

Smokers have not only seen price hikes in the last few years, with things like a ban on advertising and warning message printed on packets and an end to 10 packs being introduced to try defer people from purchasing.

There have long been calls for smoking to be made less affordable to prevent new smokers or to help current smokers give up the habit.

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According to the Office for Budget Responsibility, the Treasury raised a hefty £9.7 billion from tobacco duties in the 2019/20 tax year.

Smokers were hit in last year's Budget too, with the average cost of a pack of 20 cigarettes rising by 22p.

Alcoho l was not given the same treatment as cigarettes during today's budget.

Instead of a price hike, Rishi Sunak announced "draught relief" - a new, lower rate of duty on draught beer and cider.

The Chancellor told MPs: "It will apply to drinks served from draught containers over 40 litres. It will particularly benefit community pubs who do 75% of their trade on draught. Let me tell the House the new rate: draught relief will cut duty by 5%.

"That's the biggest cut to cider duty since 1923. The biggest cut to fruit ciders in a generation. The biggest cut to beer duty for 50 years.

"This is not temporary, it's a long-term investment in British pubs of £100 million a year. And a permanent cut in the cost of a pint by 3p."

Sunak said the reforms will come into effect in February 2023.

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