Noonan: No gain from further tobacco price rise

Hiking the price of a packet of cigarettes will produce no financial gain for the exchequer, Finance Minister Michael Noonan claimed.

He said yesterday he believes many people will quit or switch to products purchased through the black market or from abroad.

Mr Noonan was responding to a question about the gain to the State from increasing the excise on a pack of 20 cigarettes by between 10c and 60c.