Legalising 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, a survey said on Tuesday as politicians thrash out rules for the budding sector.
Legalising 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, a survey said on Tuesday as politicians thrash out rules for the budding sector. Chancellor-in-waiting Olaf Scholz and his centre-left Social Democrats (SPD) are in talks with the environmentalist, pro-spending Greens and the libertarian, business-friendly Free Democrats (FDP) to build a three-way coalition.
At the same time, it could bring 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 economy. Legalising cannabis in Germany would give a boost to a ballooning European market that is expected to be worth more than 3 billion euros in annual revenue by 2025, up from about 400 million euros this year, according to the European Cannabis Report by research firm Prohibition Partners.
The use of cannabis for medicinal purposes has been legal in Germany since 2017. ($1 = 0.8804 euros)
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