Legalizing cannabis for adult use in the United Kingdom and taxing and regulating sales could generate as much as £9.5 billion per year according to a new analysis published by CLEAR. CLEAR is a cannabis reform advocacy organization based in the UK.
“Overall the net benefit to the taxpayer of a taxed and regulated cannabis market could range from £3.4 Billion to £9.5 Billion per annum, with a best estimate of £6.7 Billion per year at recent market levels.” the organization stated.
The market projection is part of a recently published analysis by CLEAR titled, ‘How to Regulate Cannabis in Britain.’ The recently published analysis is the third version of the organization’s plan, with the first version being published on September 12th, 2011, and the second version being published on October 18th, 2013.
“The plan is predicated on the fact that the prohibition of cannabis provides no control whatsoever over this multi-billion-pound market. Present policy is, in fact, an abdication of responsibility by government to organised crime.” CLEAR stated in its analysis.
CLEAR is proposing, among other things, the creation of an “inspectorate as an executive agency of government to include a head office, 10 analysis laboratories, 10 bonded warehouses, 10 regional offices, 100 local offices with a total of 2620 staff and an annual budget of around £200 million.”
