REGULATE NICOTINE LIKE POT: CEO
The president and CEO of Imperial Tobacco Canada is urging governments to use the same logic to regulate tobacco and nicotine as they plan to do for marijuana. Jorge Araya told a business audience Thursday his firm isn’t looking for a decrease in taxes on traditional cigarettes. Rather, Araya says Imperial Tobacco wants a competitive tax regime for other nicotine products such as e-cigarettes, which represent the industry’s future growth. Araya says he supports a bill that seeks to legalize nicotine-containing vaping products. But he is against the provision that would require tobacco companies to have plain and standardized packaging for cigarettes. He says branding and low taxes discourage consumers from seeking illegal products that aren’t taxed or regulated. He says governments should recognize the need for tobacco to be competitive with the underground market.