The Labour party pledges tobacco levy if wins power next year

September 23, 2014 2:38 PM

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The Labour party pledges tobacco levy if wins power next year

MANCHESTER England (Reuters) - The Labour party said on Tuesday it would introduce a U.S.-style "sin tax" on tobacco firms if it wins a national election next year, sending shares in the leading cigarette groups lower on the day.

Labour leader Ed Miliband made the pledge in a speech to his party's annual conference which he hopes will help him persuade sceptical voters he is prime ministerial material and can win power next May.

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