Here’s your lunch time news bite for Tuesday: How’s Coca Cola going to deal with the incoming sugar tax? Coca-Cola has announced it will cut the size of its 1.75l bottles to 1.5l and raise the price by 20p in March, as a result of the introduction of a sugar tax on soft drinks from April this year. However, the company has insisted it has no plans to change its classic recipe. The new tax was announced by former Chancellor George Osborne in March 2016 in an attempt to tackle rising obesity among children in the UK. It is estimated the tax, which will apply to one in five soft drinks sold in the UK, will raise £520m a year to be spent on sport in primary schools.