Australian Residents Could Save $850 Million Annually if Cannabis is Decriminalized

Australian Residents Could Save $850 Million Annually if Cannabis is Decriminalized

It’s time to take a closer look at the benefits of cannabis legalization, according to a new Pennington Institute report. “The Pennington Institute Annual overdose report in Australia, authoritative study of overdose in Australia. Cannabis in Australia 2022 aims to fill gaps in accurate and up-to-date data on Australian trends, attitudes and approaches to cannabis. ” the researcher wrote.

The foreword to this study was written by John Ryan, CEO of the Pennington Institute, and describes some of the issues related to the state of cannabis today. But it can also be compromised by lack of access to evidence, misunderstandings and even misinformation,” said Ryan. “The Pennington Institute is committed to improving drug management through community engagement and knowledge sharing, so we are pleased to share the Pennington Institute’s latest report. Cannabis in Australia 2022Our first report on cannabis presents results from months of research and interviews with nearly 100 experts, and compiles them into a concise overview of cannabis use in Australia today. . “

The report describes the costs of policing consumption and possession. “From 2015 to 2016, more than $1.7 billion was spent on enforcement, including $1.1 billion on incarceration, $475 million on police, $62 million on courts, $62 million on legal aid and prosecutions. $52 million, $25 million spent on community remediation.” If cannabis is decriminalized, the report predicts it could save taxpayers up to $850 million annually. Legalization could save residents over $1.2 billion annually.

Like other countries, Australia has a high cannabis arrest rate. From 2010 to 2011, there were 702,866 cannabis-related arrests in the country, nearly 90% of which were related to personal consumption or possession. Ten-year data from 2019 to 2020 showed that half of drug arrests (about 46.1%) were related to cannabis.

Nevertheless, cannabis consumption in Australia is common. “More than a third of Australians aged 14 and over have used cannabis at least once – 37%, or 7.6 million. In 2019, about 2.4 million Australians used cannabis. and 200 million people worldwide used cannabis.” report state.

In recent years Australian residents have been surveyed to determine their belief that cannabis is a criminal offense. I was thinking This figure increased to 67% in 2013, 73.9% in 2016 and 77.9% in 2019.

Recreational cannabis is illegal across Australia. Australian Capital Territory In 2020, we introduced new rules for personal cannabis use. Most recently, in October, a small amount of other drugs such as cocaine, methamphetamine, LSD and psilocybin were decriminalized.

Meanwhile, Australia’s medical cannabis program continues to grow. “The medical cannabis market in Australia is expanding rapidly, increasing from just $30 million in 2019 to an estimated revenue of $230 million in 2021.” report add“Approximately 40 companies involved in the medicinal cannabis market are listed on the Australian Securities Exchange (ASX). The top 20 companies have a combined market capitalization of over $2 billion.”

Ultimately, Ryan concludes, legislators will need to address some of these key points. “At the forefront of the debate is how to improve access to health care for those who need it, and what is caused by the law and the substance itself as we move toward more informed and caring communities. It should be a question of how we can reduce the harm caused.

With two decades of dedicated experience, Nuggs is a seasoned cannabis writer and grower. His journey has been a harmonious blend of nurturing cannabis from seed to harvest and crafting insightful content. A true expert, they've honed strain-specific knowledge, cultivation techniques, and industry insights. His passion shines through enlightening articles and thriving gardens, making them a respected figure in both the growing and writing facets of the cannabis world.

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