Legal cannabis market would be worth £1.25bn a year to government

English: An outdoor hemp plantation in the UK....

An outdoor hemp plantation in the UK. (Photo credit: Wikipedia)

 

Interesting that cannabis has been featuring increasingly in the news over the past few months.  I wonder if there is a growing belief that spending so much money on trying to police a drug which many believe is less harmful than tobacco is just a waste of time and effort.  I’ve just taken the thought process a stage further to a logical conclusion of getting the country back in the black!

 

Solving The National Debt

Remember Gottingen? –
back in July,
where guerrilla gardeners were getting a high.
Cannabis growing everywhere,
illegally, for all to share,
in the town that had gone to pot.

Now in the UK
a study has shown
that cannabis could be legally grown
and help solve the national debt.
How?
By reducing the cost to be met
in enforcing the law
and building a market
from the ground floor
thus raising revenue through lots of tax
by refining this drug that helps you relax.

But why stop at cannabis?
They’d be missing a trick.
If this government were really slick
they’d legalise all drugs as well
and become a national drug cartel –
with a minister for speed and one for E,
magic mushrooms and LSD,
one for hash and crack cocaine
and with all this legal narcotic cash
we’d not be a country gone to pot
but back in the black again.

 

14th September 2013 – headline from the Guardian

Notes:  “Legal cannabis market would be worth £1.25bn a year to government.”  Legalising and taxing cannabis could be worth as much as £1.25bn a year to the government, a study suggests.  The report, by the Institute for Social and Economic Research, quantifies for the first time the revenue to be gained from the regulation and taxation of the cannabis market in England and Wales.  It estimates that reduced enforcement costs, such as police, court and prison time and community sentences, could save £300m or more alone, with the remaining three-quarters of the net benefit come from tax revenue.  It was commented that ”the costs of the current punitive approaches to cannabis control are massively disproportionate to the harms of the drug, and shows that more sensible approaches would provide significant financial benefits to the UK as well as reducing social exclusion and injustice”.

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