A 'meat tax' on bacon, burgers and beef could save 220,000 lives and £30.7billion around the world within two years, experts say.
Making red meat, heavily linked to cancer and heart disease, more expensive could encourage people to switch to eating healthier alternatives.
In the UK, this could prevent 6,000 deaths a year and save more than £700million which would otherwise have been spent on healthcare.
But it could hike the price of red meat like mince and steak by 14 per cent, and the cost of processed meat like bacon and burgers by 79 per cent, the MailOnline reported.
Oxford University researchers said eating red and processed meat kills 2.4million people a year and costs the global economy £219billion.