'The UK “can’t afford” to ignore the lucrative benefits of legalizing cannabis, an international development organization has warned, claiming the class-B drug could earn the economy up to £3.5 billion ($4.7 billion) a year.
While Westminster is at loggerheads over the much-debated issue of legalizing the drug for medical purposes, a new report published on Saturday by Health Poverty Action sets out huge economic and social benefits that the country could yield from cannabis tax income.
Martin Drewry, director of the non-profit Health Poverty Action, said: “This week Canada will become the first G7 country to vote to legalize and regulate cannabis, it is clear that the war on drugs has failed and that responsible regulation protecting public health is the way forward.”
The report argues that the money gained by legalizing cannabis could be used to support public services. It singled out the NHS, which is facing an unprecedented staff and funding crisis, claiming that revenue from cannabis taxation could write off the service’s £1 billion ($1.3 billion) deficit.
“And with the NHS on the brink, this kind of tax revenue is hard to ignore. The time has come for the UK to catch up with this global shift – we really cannot afford to be left behind,” Drewry said.
The research also dismissed the idea that legalization would increase consumption among young people.
“The early indications from the US states where the newly regulated markets are most developed, are that teenage use of cannabis has not risen, as opponents of legalization had feared; whilst at the same time new cannabis taxes are bringing in vital revenues to help fund public services,” the study's authors state.'
Read more: Legalizing cannabis would pay for the NHS – non-profit report
Did you like this article?
Thank you for your vote!
3 hours ago
U.K.'s Foreign Minister: We Will Oppose Every UN Human Rights Council Measure Against Israel
16 hours ago
And on the day after Brexit ... 10,000 troops from 13 countries arrive in the UK for major exercise
19 March 2019
Think electroshock therapy is a medical brutality from the past? Nearly 23,000 patients were “brain shocked” in the U.K. from 2015-16
From our advertisers
2 hours ago
No, Critics Declare in Response to Trump, Now Is Time to Give Occupied Golan Heights Back to Syria
'Renegade' - The Life Story of David Icke (Official Trailer) - 2019 - And where you can see it...
From our advertisers