A newly published study finds that legalizing marijuana could bring significant economic benefits to Australia.
ABC Radio Perth reported. The study, conducted through the University of Western Australia, found that cannabis legalization could bring Western Australia $243.5 million annually in its first five years.
According to the outletthe study “quantified the income that states could earn from legalizing cannabis” and “provided data on the forms and frequencies of cannabis use and the estimated costs of enforcing current laws prohibiting cannabis use.” Considering”.
“We commissioned this report because we wanted to know the real truth about this, and we didn’t expect any extraordinary results,” said Bryan, leader of the Cannabis Legalization WA Party, the group that commissioned the report. Mr Walker said: told ABC Radio Perth..
“This is the first time that someone has published their work and revealed exactly how those numbers were obtained. There are things like courts and correctional institutions for those who add up to about $100 million a year.”
Marijuana is illegal in Australia and penalties vary from state to state. in Western Australia, according to Guardian, “[f]Fines range from $2,000 to $20,000 and up to two years in prison,” but “Possession of up to 10g will be controlled by the police.” [law enforcement] You can order the person for counseling sessions (one for adults and two for children) at your discretion. “
Walker told ABC Radio Perth: If you lose a million dollars in crops in a raid, how do you compensate for that loss? It all comes at a cost. Once legalized, the risk premium is gone. “
ABC Radio Perth provides further background on the study: ‘Data from the report (Economic Litigation of Cannabis Legalization in Western Australia) was drawn from the Australian National Narcotics Strategy Survey, the Australian Crime Commission, the Australian Criminal Intelligence It has been drawn from a wide range of sources, including the Commission’, National Center for Drug and Alcohol Research, University of New South Wales. The report examines projections five years after the law was enacted and found that if a modest 25% tax rate were applied to adult recreational cannabis, Washington state would have about $686 million in annual sales. It was found to generate about $137 million in direct tax revenue. . Licensing fees to companies looking to sell cannabis would add an estimated $6.5 million to the economy each year. “
Cannabis legalization in Australia may soon move from the realm of theory to practice. Australia’s minor Green Party said last year that the country’s constitution gives parliament the power to legalize recreational cannabis over states.
according to Guardian, The Green Party’s proposal “joins a handful of countries (and US states) already moving to legalize, allowing the regulation and sale of cannabis strains approved for recreational consumption in Australia.”
“Green Senator David Shoebridge plans to introduce the bill to the Senate as soon as the Greens accept the outcome of the talks,” The Guardian reported last month. “To get anything done, this bill will need government support, and Labor has yet to show support for it.”
As Guardian explained. “Under the Constitution [in Australia]States are responsible for criminal law,” but the Greens “believe that if cannabis is legalized in the Commonwealth, the Commonwealth will have the power to create a national legal cannabis market.”