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Wednesday, 21 October 2015

Unit 1: Introduction of a sugar tax - government intervention to correct market failure

This is an interesting clip: Evan Davis interviewing Jamie Oliver about the possible introduction of a Sugar Tax. Jamie - who looks less boyish these days - addressed the Commons Health Select Committee. And who'd have though that he would use the word 'hypothecated' - and what does it mean? That's for you to look up...
Alas, the term is a bit of a 'red herring' - hypothecated taxes rarely deliver the benefits that they are expected to. However, it's noble that Jamie should be tackling obesity: I hope that he's going to reduce the amount of fat in his cooking...

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