Germany Considers Recreational Legalization
by Gabrielle Caravetta
Germany is amongst the many European countries to legalize marijuana for medicinal purposes and now the country may be the first to decriminalize cannabis and legalize it’s sale for recreational purposes.
Policy-makers and sectors have said legalization would reduce dangerous activity on the black market where product quality is compromised. All of the police resources used on cannabis convictions would no longer be needed. The rise in tax revenues can contribute to preventing addiction and providing therapy services.
A survey published last week found that legalizing cannabis could bring Germany annual tax revenues and cost savings of about 4.7 billion euros ($5.34 billion) and create 27,000 new jobs. The European market is projected to grow to 3.2 billion euros by 2025, up from 403 million euros at the end of 2021, the European Cannabis Report by research firm Prohibition Partners found.
This growth could give U.S. and Canadian firms quite a boost!