The price of fresh milk in Australia will likely see a significant drop as the government lifts the product-specific tax that is currently levied on it.
The 11 cents per litre levy, which was first introduced in 2000, will be removed on February 22.
The tax was designed by the Howard government as a temporary way of funding industry deregulation, with a view that it would be abolished once this had been accomplished.
Current Prime Minister Kevin Rudd confirmed that the government were preparing to remove the tax last year. Some retailers have already begun to phase in the cut.
According to Dairy Australia, the removal of the tax will have no affect on the country's farmers, or their gate price.
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