Concordia Economist: No Economic Windfall From Legalization, but Much Room for Growth

Article by Sam Riches, Growth Op

NEWS Concordia economist: No economic windfall from legalization, but much room for growth “You can’t have a huge legal market and have huge legal tax revenues, because that would require a high rate of taxation on each unit of cannabis,” professor explained. By Sam Riches There is still much room for growth in the Canadian industry, particularly on the retail side in Ontario and Quebec. / Getty Images

There are many arguments for legalizing cannabis that are not rooted in dollars and cents.

The disproportionate enforcement of cannabis laws, for example. Or the failures of prohibition. Or the potential for improved access to medical cannabis.

Still, one of the oft-repeated arguments for legalization is the potential tax revenue that could be generated. But according to a new paper in Canadian Public Policy, Canada should not be expecting an “economic windfall” from legalization anytime soon.

Read the full article here.

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