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Home 🌿 Recreational Marijuana News 🌿 Legal Marijuana In Canada Could Bring $5-Billion Windfall For Governments: CIBC World Markets 🌿Legal Marijuana In Canada Could Bring $5-Billion Windfall For Governments: CIBC World Markets
OTTAWA -- Call it Prime Minister Justin Trudeau's secret stash.
A new report from CIBC World Markets says Canada's federal and provincial governments could reap as much as $5 billion annually in tax revenues from the sale of legal marijuana.
CIBC economist Avery Shenfeld crunched the numbers using current estimates of Canadian recreational pot consumption, the revenue experience in U.S. states that have legalized, and other factors -- such as prevailing "sin tax" rates on alcohol and tobacco.
"The bottom line is that federal (and) provincial governments might reap as much as $5 billion from legalization, but only if all the underground sales are effectively curtailed," writes Shenfeld.
"That's on the order of 0.25 per cent of GDP, no barnburner."
The Liberal government has promised to legalize, tax and regulate marijuana and has made MP Bill Blair, the former Toronto police chief, the lead on investigating a new regulatory model....
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