Sugar tax among MPs’ suggestions to tackle diabetes
The article refers to the suggestion by the Singapore Government to curb sugar consumption by levying Tax on sugar products. Sugar- now widely known and proven to be addictive and the reason behind several diseases – is consumed in large quantities by all age groups.
Topics include Inelastic Demand, Addictive nature of goods, Demerit Goods, Market failure, Negative Externalities of Consumption.
Evaluation will cover advantages/effectiveness and disadvantages of taxation as a tool of Government Intervention, effectiveness of others tools like regulation and impact on the Consumers, Producers and Society in short term and long term.ols like regulation, impact on the consumers, producers and society in short term and long term.