Why is WHO urging countries to implement a 50% price hike on sugary drinks, alcohol and tobacco?

The World Health Organisation (WHO) is urging countries to raise the prices of sugary drinks, alcohol and tobacco by 50% through taxes over the next 10 years. Through the price hike, the organisation aims to tackle chronic public health issues.
How will the price hike help in controlling the health problems?
Chronic public health problems like diabetes and some cancers are caused due to the consumption of products like tobacco, alcohol and sugary beverages.
Through the price hike move, the consumption of such products will be brought down and it can also help in raising money at such a crucial juncture.
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"Health taxes are one of the most efficient tools we have. It's time to act," said Jeremy Farrar, WHO assistant-director general of health promotion and disease prevention and control.
WHO Director-General Dr Tedros Adhanom Ghebreyesus said the taxes could help governments 'adjust to the new reality' and bolster their health systems with the money raised.
According to the US Food and Drug Administration, people who are habituated to smoking are 30 to 40 percent more likely to develop type 2 diabetes than people who don’t smoke. The more cigarettes you smoke, the higher your risk of type 2 diabetes.
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Similarly, alcohol can cause both short-term as well as long-term effects in consumers. Drinking too much alcohol over time may cause inflammation of the pancreas, resulting in pancreatitis. Long-term consumption may also risk the body for alcohol-related liver disease and chronic liver inflammation.
Excessive consumption of sugar leads to diabetes, eventually leading to diabetes related risks, heart ailments and other chronic health issues.
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