New research has found that legalizing the sale and use of recreational cannabis could bring a €5 billion ($5.67 billion) boost to the German economy via annual tax revenues and cost savings within the police and justice department.

Should Germany proceed with legalization, the research estimates that it could bring in tax revenues of €3.4 billion ($3.86 billion) per year and save some €1.3 billion ($1.48 billion) in costs within the police and judicial system, alongside creating 27,000 new jobs.

https://i0.wp.com/www.dice.hhu.de/fileadmin/_processed_/f/d/csm_Campusaufnahmen_14294_51231912ee.jpg?w=696&ssl=1

The report, carried out by the Institute for Competition Economics (DICE) at the Heinrich Heine University in Düsseldorf and commissioned by the German Cannabis Association, comes amid ongoing discussions for the formation of a coalition federal government.

One of the areas under consideration in the three-way talks between the Social Democrats (SPD), the Greens, and the Free Democrats (FDP) is the potential regulation of the sale and use of recreational cannabis.

Using cannabis for medicinal purposes has been legal in Germany since 2017. However, its possession or distribution for recreational use remains illegal and can result in fines as well as time behind bars.

https://i1.wp.com/cdn.images.express.co.uk/img/dynamic/78/590x/Cannabis-breaking-1523645.jpg?resize=674%2C400&ssl=1

Earlier this year, research on the legalization of cannabis across Europe by market intel firm Prohibition Partners said that if Germany legalized its use by adults, the move would see that country alone constituting “over half of the European market until 2024.”

It would also help propel the European cannabis market from its 2021 valuation of €400 million ($454 million) to some €3 billion ($3.4 billion) by 2025.

RT. com / ABC Flash-Point News 2021.

4.6 5 votes
Article Rating
Subscribe
Notify of
guest
9 Comments
Inline Feedbacks
View all comments
Andrey65
Andrey65
Guest
19-11-21 02:47

I’m sure they could make lots of money from cocaine too! So why to bother with weed!

User1337
User1337
Guest
Reply to  Andrey65
19-11-21 02:53

comment image?auto=format&fit=crop&ixlib=react-8.6.4&w=1074

User1337
User1337
Guest
Reply to  Andrey65
19-11-21 02:53

comment image

B 6
B 6
Guest
19-11-21 02:51

Cannabis is fine. As long as we can tax it

User1337
User1337
Guest
Reply to  B 6
19-11-21 02:54

comment image

User1337
User1337
Guest
19-11-21 02:52

Every country that legalizes cannabis will have tax money without an end in sight. Ow and the numbers are quite an low estimate based off Colorado and California system.