The cannabis legalization could report to Germany some tax revenue a year and cost savings of about 4.7 billion euros ($ 5.34 billion), in addition to creating 27,000 new jobs, according to a poll on Tuesday, as politicians discuss rules for the fledgling sector.
Olaf Scholz, leader of the center-left Social Democrats (SPD), is in talks with the Greens, pro-spending and environmentalists, and with the Free Democratic Party (FDP), libertarian and pro-business, to build a three-way coalition.
Negotiators from the SPD, the Greens and the FDP are still working out the details of their coalition agreement, including the rules that would authorize and regulate the sale and use of recreational cannabis in Europe’s largest economy.
The study carried out by the Institute of Competition Economics (DICE, for its acronym in German) of the Universidad Heinrich Heine de Düsseldorf, and commissioned by the German Hemp Association, concluded that the legalization of cannabis could generate additional tax revenues of about 3.4 billion euros per year.
At the same time, it could lead to a cost savings in the police and judicial system of 1.3 billion euros per year, while creating tens of thousands of jobs in the cannabis economics.
The legalization of cannabis in Germany would give a boost to an expanding European market that is expected to exceed € 3 billion in annual revenue by 2025, up from around € 400 million this year, according to the European Report on the Cannabis from the consultancy Prohibition Partners.
The use of cannabis for medicinal purposes has been legal in Germany since 2017.
Reference-www.eleconomista.com.mx