Listen Live
    Canada’s Supreme Court Rules Medical Marijuana Legal in All Forms

    Green Light: Canada to Legalize Marijuana by July 2018

    © AP Photo / Jae C. Hong
    World
    Get short URL
    0 41
    Subscribe

    Canada will reportedly be announcing legislation in April that will legalize marijuana by July 1, 2018.

    The promise of legalizing marijuana is often credited for Prime Minister Justin Trudeau’s election win in 2015. Speaking on condition of anonymity to the Associated Press, an official confirmed that legislation is finally on the way.

    Marijuana
    © AP Photo / Eduardo Verdugo

    Trudeau’s plan to legalize marijuana has led to stocks in the plant skyrocketing, especially after a study conducted by Deloitte estimated that recreational marijuana will become a $26.6-billion industry, surpassing sales of beer, wine, and spirits combined.

    A study titled Recreational Marijuana: Insights and Opportunities conducted by Deloitte jointly with RIWI Corp last year estimated that there will be a demand for some 600,000 kilograms of marijuana annually, far more than is currently produced for medicinal purposes. The base retail market would be worth $4.9 billion to $8.7 billion annually, according to the study, while the ancillary market of growers, labs, and production would be worth between $12.7 billion-$22.6 billion, and the tourism, business taxes, licence fees and paraphernalia would be worth over $22.6 billion.

    "This will be done in a careful way to keep it out of the hands of children and youth, and to stop criminals from profiting," Justice Minister Jody Wilson-Raybould said in a statement. "In order to meet our commitment to legalize, the legislation will need to pass through the parliamentary process in a timely fashion."

    Licensing producers to make sure the supply remains safe will be handled by the federal government, while distribution and costs will be in the hands of the provincial governments.

    Related:

    Insurance to Cover Medicinal Marijuana in Canada – Human Rights Board
    Marijuana Legalization Process to Begin in Canada Next Spring
    Top of Trudeau’s Agenda? Legalizing Marijuana in Canada
    Canada’s Supreme Court Rules Medical Marijuana Legal in All Forms
    Canada's Major Opposition Leader: I'll Legalize Pot 'Right Away' if Elected
    Tags:
    Legalization, Marijuana, Justin Trudeau, Canada
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik