How much money would legalizing weed make uk

In , Portugal became the first country in the world to decriminalize the use of all drugs, and started treating drug users as sick people, instead of criminals. Another thing is that cannabis causes violence. Ed Cumming. Daily Edition app. Log in. There are also significant class connotations with the drug in the UK, according to the research Volteface has conducted. Chuka Ummuna.

Some accountants helped us break it down.

Last year was truly memorable for the cannabis movement. After decades of operating in the shadows, Canada became the first industrialized country in the world to legalize recreational marijuana and only the second overall behind Uruguay. The U. Illinois is set to become the 11th state to legalize recreational weed. A little more than a week ago, the Illinois Legislature overwhelmingly voted in favor of House Billwhich is a measure that will legalize recreational marijuana throughout the Land of Lincoln by Jan. The bill allows adults aged 21 and over to purchase and possess up to 30 grams of cannabis, with nonresidents allowed to possess up to half the amount of state residents.

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Lots of people think it’s time already to legalize it. So how much do you think could it bring in every year? It’s not like we’d be losing that much and I think gun violence would go down.. All it would take to make Billions would be the right laws around it. It would create jobs too! BTW, people who think it would make more addicts must live in a bubble, virtually everyone has tried it at one time or another in their life and its pretty easy to get even now. It became made unlawful all those years in the past because of the fact hemp became a greater cost-effective and greater appropriate source for paper and it became going to place the logging marketplace into decline so they used scare strategies approximately it utilising you insane that are thoroughly ridiculous.

Why we must legalise cannabis now for the sake of public health

Today, the 26th of July,the British government announced that laws will be relaxed to allow doctors to prescribe cannabis-derived medicines from autumn onwards.

The move follows campaigning around year-old Billy Caldwellwho has a life-threatening form of epilepsy which is treatable with a cannabis oil that was muuch banned. The news is positive, but the UK is still tracking far behind Canada, Uruguay, certain US states and other countries when it comes to cannabis policy, with the government maintaining legalizng it has no plans to legalise recreational cannabis use.

All this reminded us of this article we ran inso we’re re-publishing it now because it’s just as relevant as. Colorado became the first US state to legalise the recreational use of cannabis in lateand — after a long administrative battle — over 20 businesses in the Centennial State began legally selling weed on weec 1st of January, Of course, the possession and sale of cannabis remains illegal at the federal level, so makr prompted Coloradan lawmakers to take this bold legislative move?

On top of all the usual pro-bud, «It’s legaalizing a plant, man» rhetoric, one argument was that legalisation would create a tax-profitable «green economy». Now that more and more states are edging towards this point of view, could the same thing be applied in the UK, potentially solving our own massive deficit now First, it letalizing sense to look at the current situation in the States.

So far, stores in Colorado have been state-licensed to sell cannabis, and the Colorado Futures Centre CFC — an independent, nonpartisan research body — predict a demand of 2, ounces a year in their home state. This is most likely due to a case of demand outstripping supply, and will probably level out over time.

Add savings from the police budget and extra income tax from job creation to that figure, and you’re looking at a decent amount of extra public funds. And while the CFC say this won’t be enough to solve Colorado’s budget problems, any alternative to extra public spending cuts and austerity is surely welcome.

British activist Colin Davies in the Manchester cannabis cafe he set up in He is currently trying to open another cannabis cafe in central Manchester. Photo courtesy of HempCity. Ignoring the moral, ethical and political lealizing over the legalisation of weed, it’s impossible to deny the size of the market — and the potential for regulation and taxation.

So what would it look like if the UK followed suit? They estimated that the amount of cannabis consumed in the UK between and legalizimg, on average, 36, ounces per year — almost 15 times the amount that Colorado’s stoners how much money would legalizing weed make uk.

To give you some context, that’s just under half the size of the British tobacco industry. The system of taxation, however, would be different to the one employed in the US. That’s obviously a lot of money. There are also significant public spending savings to be made through legalising cannabis. The prison service also releases detailed figures on what inmates have been jailed. Between tothere were an average of 1, cannabis offenders in custody a year. On top of these savings, the whole legal process of conviction also needs to be considered.

CLEAR have also suggested that a load more tax could be gained from cannabis sales if lwgalizing duty was charged based on the potency of the plant, meaning — as a consumer — you’d end up paying slightly more for a better product.

Which makes total sense. That sounds like a lot, but — just like Colorado — definitely isn’t enough to balance the UK’s budget deficit. In fact, the money made on tax per year through the legalisation of cannabis would eould increase tax revenues by 1. Thanks hhow the accountants at Crunch for their help with the financial figures. Follow Nick on Twitter: nickchef This legalizong is over 5 years old.

How People Make It In the Legal Weed Business

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I would like to receive morning headlines Monday — Friday plus breaking news alerts by email. Subscribe Now Subscribe Now. December 13, Log in. Statistics show 79 per cent of drug users continue to go to dealers for cheaper, more potent weed. Please enter a valid password. November 26, Want to bookmark your favourite articles and stories to read or reference later? Please enter a valid password. Were recreational use to be legalised, it would bring to light questions about reviewing the criminal records of people serving jail time for cannabis charges. Show 25 25 50 All. The trend often starts when a government allows it to be made available for medicinal use, as is happening with cannabis oil in Britain. Only one cannabis-based medical product — Sativex — can be legally prescribed in limited circumstances usually to help alleviate the symptoms of multiple sclerosis and the government is open to further applications. Save my name, email, and website in this browser for the next time I comment. January 15, January 7, Join the discussion.