Canada’s cannabis industry needs smarter, precise regulation and a lighter touch consistent with the freedom Tories favour
As the federal Liberals go up in smoke, Canada’s young cannabis industry faces the likelihood of the federal Conservatives running the recreational pot system for the first time. The Conservatives say they favour common-sense policy. Good. The legal cannabis industry, which now accounts for 20 per cent of all GDP from crop production, desperately needs a common-sense approach.
Good Conservative policies could help clean up the red-tape mess the cannabis industry currently is entangled in and make the market work better for Canadian consumers. Moreover, as recreational cannabis becomes legal in more and more places around the globe (most recently in Germany) a common-sense approach could help Canada capitalize on our first-mover advantage.
To do that, the Conservatives must first ignore the cheap political urge to simply be “against” cannabis. They need to treat it like other recreational substances, such as beer. In fact, from a public health perspective, non-smoked oral consumption of cannabis is safer than drinking alcohol.
The Tories should also support innovation in the cannabis sector, thus encouraging entrepreneurs to invest in it. They need to bring forward the now long overdue review of the Cannabis Act. This would provide smarter regulations to allow for new advanced products. Sensibly amended regulations could also allow for social consumption locations (e.g., cannabis bars for beverages and edibles).
Read the full article at Financial Post
