Delay in Legal Weed Throws Off New Brunswick’s Provincial Budget Projection

Article by Jacques Poitras, CBC News 

Delay in legal weed throws off provincial budget projection Finance minister says federal delay will hurt provincial pocketbook By Jacques Poitras, CBC News. A delay in legalizing cannabis will lead to lower-than-projected revenues for the province, says Finance Minister Cathy Rogers. (David Donnelly/CBC)

New Brunswick’s finance minister says cannabis revenue projections in her January budget will be thrown off because of a delay in Ottawa to legalizing the drug.

Cathy Rogers says it remains to be seen how far below the projected $7.2 million the revenue will actually be.

“Since there will be a delay, we know that for each month that there is a delay, it will have some impact on our projected revenue,” she said Tuesday.

“If it’s a short-term delay, the impact won’t be significant.”

The Gallant government had been aiming to open retail cannabis stores at the start of July, when legalization was expected to take effect across the country.

But the Trudeau government agreed last month to let the Senate spend more time studying and debating the legislation. Passage of the bill is now expected around June 7 with royal assent to follow.

Read the full article here.

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