Turns out the quickest way to grow a black market is to price the legal market out of existence.
Organised crime now controls almost 50% of Australia’s tobacco market, and it’s getting worse.
The illegal trade is on track to dominate four out of every five cigarettes sold by next year.
By the end of this year, the black market is estimated to overtake legal sales for the first time, with 6.6 billion illegal cigarettes predicted to be sold compared to just 3.5 billion legal ones.
Projections put legal sales at just 1.9 billion in 2026 while illegal sales explode to 8 billion.
This is the most profitable, lowest-risk business organised crime has ever had.
Smokers and smugglers unite in applause for Treasurer Chalmers’ economic genius.