CLEAR has published a report from the Independent Drug Monitoring Unit (IDMU) that shows a tax & regulate policy on cannabis could produce a net benefit to the UK economy of £6.7 billion per annum. This estimate is made from a detailed study of the size of the UK cannabis market, potential tax revenues, criminal justice system savings and additional costs of regulation including health information and education.
UK ECONOMY TO GAIN £6.7 BILLION FROM CANNABIS TAX & REGULATE
Almost overnight the UK could enjoy a boost to its economy that is the same as the entire annual budget for the Department for Culture, Media and Sport, twice the budget of the Department for the Environment, Food and Rural Affairs and three times the budget for the Department of Energy and Climate Change.
Without any new laws or any change in existing law, ministers could move this huge market out of the black economy and into legitimate businesses producing thousands of new jobs.
Evidence from the US and Europe shows that a regulated system would also reduce all health and social harms, better protect children as well as permitting enormous gain from the medicinal and therapeutic benefits of cannabis.