BusinessAugust 30, 2026
ratcheted
RACH-it-ed
Definition
Increased or decreased in incremental stages, often in a way that is difficult to reverse.
Etymology
Derived from the noun 'ratchet,' a mechanical device consisting of a gear that allows movement in only one direction. It emerged in the 16th century, likely from the Middle French word 'rochet,' meaning a bolt or notched wheel.
In the news
The article uses this term to describe how federal governments have progressively increased tobacco taxes over time, leading to the current situation where high prices have inadvertently fueled an illegal black market.
Warning over plan to 'go big' and cut notorious tax by 80 per cent
Read the full article ↗Yahoo Finance Australia