December 29, 2011
Hot on the heels of Denmark and Hungary's so-called "fat taxes" and Italy's ban on plastic bags, the French government approved a "cola tax" on sugary beverages across the country. The measure goes into effect on Jan. 1 and was enacted as a response to the ongoing European debt crisis. Governmental officials expect he tax will bring in nearly $156 million in revenue annually. It works out to an average of one Euro cent per container of soda.
Unsurprisingly, soda companies overwhelmingly opposed the new measure. Coca Cola suspended a planned €17 million project in the south of France as a "symbolic protest" to the tax. "Sin taxes" on food and drinks known to have negative health consequences are increasingly common throughout Europe.
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