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coca cola tango free fall on Osbornes sugar tax & How Jamie Oliver made the big boys listen


George Osborne today announced a 25p per litre sugar tax on fizzy drinks from 2018 - and within seconds sent shares in the soft drinks industry plummeting.
Campaigners including Jamie Oliver were celebrating the Chancellor's Budget decision, which will raise an estimated £520 million a year.
Share prices in Coca-Cola's British arm, Britvic, which makes 7 Up, Robinsons squash and Tango, and Irn-Bru maker A.G. Barr fell by up to 27p per share within seconds of the announcement.
Shares  Coca Cola UK, whose drinks would be subject to a levy, also slumped after Mr Osborne's announcement
Coca Cola
Shares in  Coca Cola UK, whose drinks would be subject to a levy, also slumped by 20p after Mr Osborne's announcement
Jolt: Shares in soft drink giant Britvic, which makes Tango, R. White's Lemonade, and Robinsons squash, saw its share price fall more than 20p the moment George Osborne announced the sugar tax
Tango maker Britvic saw sales slump
Jolt: Shares in soft drink giant Britvic, left, which makes Tango, right, R. White's Lemonade, and Robinsons squash, saw its share price fall more than 20p the moment George Osborne announced the sugar tax
The NHS has hailed the decision as brave but some have branded it a tax on Britain's poor.
The tax will be imposed on soft drinks companies producing drinks containing more than a teaspoon of added sugar per 100ml.
The proposed tax will be levied in two bands:
  • A higher band for the most sugary drinks with more than 8 grammes per 100 millilitres, which includes Coca Cola, Red Bull and Irn-Bru - adding 8p to the price of a can
  • A lower band for drinks above 5 grammes per 100 millilitres, which includes Fanta and Sprite - adding around 5p to a can
  • Pure fruit juices and milk-based drinks are exempt 
Chef Jamie Oliver, a vigorous campaigner for a sugar tax, said the Chancellor's announcement that he will tax the soft drinks industry was 'amazing news'.
He posted on Instagram: 'We did it guys !! We did it !!! A sugar levy on sugary sweetened drinks ... A profound move that will ripple around the world ... business cannot come between our kids health !! Our kids health comes first ... Bold, brave, logical and supported by all the right people ... now bring on the whole strategy soon to come ... Amazing news.'
Chef Jamie Oliver, a vigorous campaigner for a sugar tax, said the Chancellor's announcement that he will tax the soft drinks industry was 'amazing news'







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