Latin America and the Caribbean are experiencing the lowest economic growth rates globally, coupled with rising public debts and government deficits. This has left governments with limited fiscal space to confront pressing issues such as healthcare, climate change, and protectionism. One promising solution is the implementation of health taxes targeting tobacco, alcohol, and sugar-sweetened beverages, with analysis suggesting potential revenue of US$ 41.82 billion annually. This figure represents nearly 20% of the region's healthcare expenditures, providing a vital resource for reinvestment in health services amidst an escalating health crisis.
Increasing taxes on tobacco, alcohol, and sugar-sweetened beverages by 50% could yield US$ 41.82 billion annually for healthcare in Latin America and the Caribbean.
With the region grappling with weak economic growth and rising public debt, health taxes could provide a much-needed fiscal resource to tackle pressing healthcare challenges.
The constraints of current fiscal space limit governments' ability to respond effectively to health crises, making health taxes a viable alternative for funding essential services.
The Task Force on Fiscal Policy for Health indicates that health taxes are among the most effective policy levers for generating revenue necessary for healthcare funding.
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