14 May Legalising Cannabis WOULD NOT Save £900 Million. A More Realistic Figure Is £6.7 Billion.
The £900 million figure being touted around by the Taxpayers’ Alliance as the savings that could be achieved from legalising cannabis is a massive underestimate and isn’t based on the sort of model that is currently being implemented in US states.
CLEAR commissioned independent research in 2011 which shows that a model in the UK simlar to that in Colorado would produce a net gain to the UK economy of around £6.7 billion pa and perhaps as high as £9.5 billion pa.
Ben Ramanauskas, who authored the Taxpayers’ Alliance report, has referenced the research we commissioned in his study but has only considered the savings and not the massive opportunities for additional tax revenue which arise from bringing a £6 billion market out of the black economy.
Full study available here: https://s3.eu-west-2.amazonaws.com/assets.clear-uk.org/taxukcan.pdf