Tobacco increase just another tax: Abbott OPPOSITION Leader Tony Abbott says the federal government may be dressing up its increased tobacco tax as a health measure but it's really just another tax. The Rudd government has confirmed plans to increase the tobacco excise by 12.5 per cent every year for the next four years to raise an extra $5.3 billion in revenue. Labor is selling it both as a health measure and a help towards returning the budget to surplus in 2016/17. The government is promoting this as some kind of health measure. Wrong, it is a revenue measure, it's just another tax," Mr Abbott told reporters in Melbourne. He said it would only raise $5 billion or so if people keep smoking. The Australian Financial Review reported on Thursday that the government's upcoming economic statement will also contain a bank deposit insurance levy, as recommended by the Council of Financial Regulators. The proposed levy is between 0.5 per cent and one per cent on protected deposits with the level set at $100,000. Presently, banks pay the government a fee to guarantee deposits over $250,000. Treasurer Chris Bowen said earlier that the government had no plans to tax the banks, but he was in regular consultation with them. Confirmation is being sought from the treasurer's office. Mr Abbott said he would respond to the government's upcoming economic statement when he saw its. "We are not going to respond piecemeal to rumoured or individual items that may or may not be in it," he said. All of these, whether it is a bank deposit tax, whether it is an increase in cigarette tax, it's all a hit on you the people.