Globally, the study from researchers at the Oxford Martin School found that a health tax on red and processed meat could prevent more than 220,000 deaths and save over US$40 billion in healthcare costs every year.
The tax has already had an effect, with some leading brands reducing the sugar content in their products to avoid the levy.
Consumption of red meat such as beef, lamb and pork has been linked to an increased risk of heart disease, stroke, diabetes and cancer.
"There is no high-quality evidence linking red and processed meat with heart disease, stroke or diabetes, and a risk of bowel cancer only applies when weekly intakes exceed 700g".
In the U.S., an "optimal" tax would see red meat cost 34 per cent more and processed meat an extra 163 per cent.
The resulting higher prices would also cut meat consumption by two portions a week - now people in rich nations each eat one portion a day.More news: Fossil Sport watch announced with Wear 3100 and ultra lightweight body
It should be noted that the lead researcher, Springmann, is one of the same researchers who, just last month, urged a worldwide switch to a more vegetarian diet in an effort to forestall so-called climate change.
"Nobody wants governments to tell people what they can and can't eat".
Why can red meat be harmful?"It is not about taking something away from people, it is about being fair".
"Optimal" meat taxes in several other countries were significantly higher than in the United Kingdom, according to the research.
The truth is the most likely outcome is a change in public perception of meat, rather than tax.
Meat eating is also damaging the planet. This has reduced sugar use in many branded products.
Global savings on health care would reach $41 billion, according to the report, which was published in the journal Public Library of Science ONE.More news: New Porsche 911 Passed Final Global Stress Tests Before Arrival
Globally, meat taxes could save an estimated 220,000 lives by 2020 and reduce healthcare costs by £30.7 billion, a study has found.
While another added that a meat tax sounds regressive. To fully cover those costs, the tax would need to be doubled.
Scientists wanted to calculate the level of tax that would be required to make up for healthcare costs associated with eating meat in 149 regions around the world.
Fans of the Great British breakfast may end up having to put their money where their mouth is, with several of the core components - bacon, sausages and black pudding - likely to be affected by a hefty tax on processed meat. The heath care services are overtly taxed and also there is loss of work force due to work place absenteeism due to ailments associated with red meat consumption. "If we are interested in people being able to farm and eat, then we better not do that".
The proposed taxes would result in a 16% reduction in the processed meat eaten around the world, the scientists estimated, which would cut the greenhouse gas emissions from livestock by 110m tonnes per year. "But as the noise died down people began to realize that they had a real choice and that switching to something more healthy was a good thing".
An effective tax in Sweden increased the price of processed meat by a whopping 185% and that of red meat by 27%.More news: Pakistan vs New Zealand - Highlights & Stats