Cannabis: A Tax Windfall For London?
Seven days until the London mayoral election, and £200 million has just entered the equation. Lee Harris, CISTA’s mayoral candidate, has put on the table an argument that is unlikely to leave Londoners indifferent: in a video posted on taxbonanza.london, Harris states that London could accumulate up to £200m in tax revenue on cannabis if the Class B drug was to be decriminalised.
A Populus poll has recently shown that 900,000 Londoners are cannabis consumers. Should the city follow the lead of American states such as Colorado, it could rack up enough money to build three copies of the London Eye. Harris is keen to point out that this ‘tax bonanza’ would benefit all Londoners, and that it is not just a ‘smokers’ issue’.
In order to regulate the sale of cannabis, it would be necessary to issue licenses to premises; cannabis would be available to buy under...
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