Legalising cannabis in UK could raise hundreds of millions of pounds

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LONDON — Legalising cannabis could raise hundreds of millions of pounds in tax, and also cut policing and prison costs, according to a new government study.

A report leaked to BBC Newsnight says that a legal and regulated market would “generate notable tax revenue” and “lead to overall savings to the criminal justice system.”

The Treasury study was commissioned by Nick Clegg ahead of May’s general election to help inform Liberal Democrats thinking on drugs policy if they remained in office.

MPs debated the issue of legalising cannabis on Monday, after a petition online surpassed the 100,000 votes needed to push the issue for consideration. In fact, the “Make the production, sale and use of cannabis legal” petition has garnered some 223,000 signatures. Read more…

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