Essay Example on Canadian government decriminalizing Marijuana it produces a legal Marketplace

Through the Canadian government decriminalizing Marijuana it produces a legal marketplace for recreational marijuana which could potentially provide the Canadian economy an increase equal to 22 6 billion per annum according to business services firm Deloitte 2 Various analysts suggest that marijuana sales could potentially be equal to alcohol sales in Canada while they are valued at 5 billion per annum however the sale of cannabis may possibly be as equal as the wine industry worth 8 7 billion 3 The impact that the Canadian economy will achieve through the legalization of marijuana is drastic because as Canada becomes legal weed market this will cause an upsurge in revenue which include cash flow coming into to economy through growing and distribution pot paraphernalia tourism and business taxes this amount of money could potentially total to around 12 7 billion to 22 6 billion annually 4 In 2018 Statistics Canada projected in regards to individuals above the age of 15 roughly 4 6 million individuals will consume cannabis at least once in relation to Parliamentary Budget Officer projections 

Through 2021 this level possibly will see a potential upsurge to 5 2 million 6 Prime Minister Justin Trudeau remains devoted to the legalization of recreational marijuana usage and is committed to implement the law by July 2017 This change could cause a substantial outpouring in share prices of producers

The Canadian Government aims to hold onto taxes on legal weed low to dispose of criminal dealers The legalization the market may perhaps produce 400 million a year in revenue 7 Statistics Canada projected that there are roughly 4 9 million medical and recreational users of cannabis around the ages of 15 and older in 2015 8 During 2015 16 the typical price of illegal cannabis fluctuated around 8 32 and 9 36 with a value of approximately 8 84 per gram Prices of the narcotic varied significantly throughout the country With the Canadian Government passing the legalization of marijuana it is expected to put a downward pressure on the prices of illegal contraband in the underground economy Users Statistics 9 According to the CCHS MH roughly 12 2 of Canada's non territorial population around the ages of 15 and above have partaken consuming cannabis in the past year at least once Roughly 40 percent of users in the past year also 51 percent of the Canadian population around the age group of 15 and over have stated that they were occasional cannabis consumers displaying that they consumed the narcotic less than once a month 10 On the other hand between the age group of 15 and over 1 8 percent of Canada's population is currently partaking on the consumption of cannabis daily 11

In 2018 Canadians at the age of 15 and over will consume roughly 655 metric tons of cannabis through 2021 there will be an increase in consumption of cannabis to around 734 metric tons Price Statistics 16 Cannabis prices have fluctuated countrywide over the past year British Columbia Quebec New Brunswick and Prince Edward Island respectively have average cannabis prices that are inferior to the regional weighted Canadian average 17 Prairie Provinces for instance Ontario Nova Scotia and particularly Newfoundland and Labrador in addition to a number of Territories altogether have average prices which were greater than the Canadian regional weighted average price Crime Statistics

18 Drug related offences associated with cannabis has drastically diminished all around the country by 11 during 2015 16 This marks the fifth consecutive year which the percentages of cannabis associated with drug related offences has declined Reduced rates were conveyed in virtually all provinces and territories Prince Edward Island New Brunswick and Quebec were the only provinces which cannabis related offences didn t adjust at all 19 All in all the amount of trafficking production or distribution of cannabis has decreased over 4 in Canada Events involving offences around the trafficking of cannabis has declined over the past few years to a staggering 8 whereas drug offences for instance production of cannabis has diminished 2 Even though the rate of importation and exportation of marijuana has grown over the past year to 8 20 The frequency of impaired driving while under the influence of contraband has increased 11 This rate compared to the national rate of impaired driving while under the influence of alcohol has remained low