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Home 🌿 Marijuana Politics 🌿 UK: Legalising Cannabis Would Generate £1bn in Tax, Say the Liberal Democrats 🌿UK: Legalising Cannabis Would Generate £1bn in Tax, Say the Liberal Democrats
Legalising cannabis could raise £1bn annually in tax, a new study by the Liberal Democrats has claimed.
According to the report, "credible estimates" have shown £1bn in government revenue could be raised, and the panel conducting the study recommended taxing cannabis in line with its potency.
As has been the case in US states such as Colorado and Washington, the expert panel behind the report called for the sale of cannabis to be legalised to over-18s from specialist, licensed retail stores.
Other proposals included setting up a new regulator to oversee the market, allowing home-cultivation for personal use and setting up small-scale licensed cannabis social clubs.
“The reality is that millions of people use cannabis in the UK and there is a pressing need for government to take control of the trade from gangsters and unregulated dealers," chair of the expert panel,Steve Rolles, said.
“Legal regulation is now working well, despite the fearmongering, in Colorado and Washington...
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