edgarshade
Bluelighter
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Guardian
Jamie Doward
The Observer, Sunday 15 September 2013
With reader comments
More...
http://www.theguardian.com/society/2013/sep/15/legal-cannabis-market-worth
Jamie Doward
The Observer, Sunday 15 September 2013
With reader comments
Report sets out potential cost savings and tax take from a regulated cannabis market in England and Wales.
Legalising and taxing cannabis could be worth as much as £1.25bn a year to the government, a study suggests. The report, by the Institute for Social and Economic Research, quantifies for the first time the revenue to be gained from the regulation and taxation of the cannabis market in England and Wales. It estimates that reduced enforcement costs, such as police, court and prison time and community sentences, could save £300m or more alone, with the remaining three-quarters of the net benefit come from tax revenue. The paper, co-authored by Stephen Pudney, professor of economics at the University of Essex, balances revenue against potential costs, such as regulatory costs and increased health promotion initiatives.
Professor David Nutt, director of the neuropsychopharmacology unit at Imperial College, London, and former chairman of the Advisory Council on the Misuse of Drugs, said the report provided strong evidence "that the costs of the current punitive approaches to cannabis control are massively disproportionate to the harms of the drug, and shows that more sensible approaches would provide significant financial benefits to the UK as well as reducing social exclusion and injustice".
More...
http://www.theguardian.com/society/2013/sep/15/legal-cannabis-market-worth