NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Countries are facing a polycrisis—the aftermath of a global pandemic, the increasing burden of non-communicable diseases, and economic and fiscal challenges—recovery from which will require both revenue and strengthened health systems.

This event will discuss the findings from a new report by the Task Force on Fiscal Policy for Health, of which CGD is the secretariat. The report advocates for implementing and increasing health taxes as a timely policy solution to raise revenue and save lives. The consumption of tobacco, alcohol, and sugar-sweetened beverages leads to over 10 million annual deaths worldwide and economic costs of over $4 trillion. The report finds that if taxes were increased such that the price of these products increased by 50 percent, 50 million lives would be saved over 50 years and US$3.7 trillion raised in just five years. US$2.1 trillion of this would be raised in low- and middle-income countries (LMICs)—enough to increase government health spending in these countries by 40 percent.

Implementing and maintaining effective health taxes will require bold leadership from politicians, including collaboration between ministers of finance and of health, supported by international institutions, such as the World Bank. This event will consider the role of ministers and international finance institutions, discuss effective messaging they can use, and draw on country experiences to explore how to successfully implement health taxes.

Time: 3:00—5:00 PM EST | 8:00—10:00 PM BST