In a significant move during the October 13 budget presentation, the government announced a sharp increase in excise duties on spirits, beer, and tobacco, leading to an immediate surge in retail prices. Dianne Joseph, President of the TT Coalition of Services Industries (TTCSI), highlighted the dual implications of this decision: a potential boost to public health by curbing harmful consumption and a strain on the alcohol and tobacco industries. Joseph emphasized that while the policy aims to reduce alcohol-related accidents, violence, and diseases, it also places substantial cost pressures on major manufacturers like Carib Brewery and Angostura. These companies, being significant employers, may have no choice but to pass the increased costs onto consumers, potentially leading to higher prices for events and hospitality services. Balliram Maharaj, CEO of ADM Import and Export Distributors Ltd and Mayor of Arima, noted that such tax hikes are a common revenue-generating strategy for governments, especially given the decline in foreign exchange. Finance Minister Davendranath Tancoo detailed the new excise rates: spirits now face a duty of $158.50 per litre of pure alcohol, up from $79.25, while beer duties doubled to $10.28 from $5.14. Cigarette excise also doubled to $10.52 per pack of 20. Local companies have already adjusted their prices, with Carib, Stag, and Pilsner bottles now retailing at $13, up from $10, and Angostura 1919 seeing a price increase to $349.99 for a 750ml bottle.