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The British government’s sugar tax has bought in less cash than expected to the UK’s coffers, the chancellor has said at his annual Budget as he announced the final rate of tax bands on the sweet stuff.

Philip Hammond said the sugar tax would be set between 18p and 24p a litre with the proceeds going to the Department for Education to fund sports for the country’s schoolchildren.

However the chancellor said revenues were lower than expected due to changes in sugar content levels made by drinks companies.

Copyright The Financial Times Limited 2017. All rights reserved.

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