Cannabis Tax Revenues Fall Short in Canada

gb123

Well-Known Member
like they knew before hand how much they were supposed to make ? fools

he first year of cannabis tax revenues from Canada’s legalized market is lower than (barely half of) what the government had expected.
Cannabis-derived revenues in Canada didn’t meet government expectations during the country’s first fiscal year of legalization, totaling $18 million on estimates of $35 million, the National Post reports. The less-than-expected revenues from 2018-2019 have forced the government to lower their expectations for this fiscal year from $100 million to $66 million.

Officials are still betting on cannabis tax revenues to reach $135 million next year and to $220 million by 2023, according to a House of Commons report.

Finance Minister Bill Morneau’s press secretary, Pierre-Olivier Herbert, defended cannabis legalization despite the lower-than-anticipated revenues, telling the Post that the reforms were meant to ensure there is a safe, legal, market and that the government “implemented a strict legal framework to regulate and restrict access to cannabis” in order to keep it “out of the hands of youth, and profits out of the pockets of criminals and organized crime.”

“Various factors contribute to excise tax revenues including the volume of sales and available supply. Provinces are responsible for distribution, licensing and overseeing the distribution and sale of cannabis.” – Herbert, to the National Post

Ontario made $217 million in cannabis sales during the last fiscal year – the most of any province – followed by Alberta with $196 million and Quebec with $195 million. In all cannabis sales throughout the nation topped $907 million last year, according to the report.

The national rollout of legal cannabis sales didn’t include so-called “alternative” cannabis products, such as edibles and topicals which hit most store shelves in mid-December. The exclusion of those products at the onset likely had a negative impact on first-year sales. Illegal cannabis products were also cheaper than their legal counterparts, according to Statistics Canada which found illegal flower products were about $4 less per gram than in the legal market.
 

cannadan

Well-Known Member
"Finance Minister Bill Morneau’s press secretary, Pierre-Olivier Herbert, defended cannabis legalization despite the lower-than-anticipated revenues, telling the Post that the reforms were meant to ensure there is a safe, legal, market and that the government “implemented a strict legal framework to regulate and restrict access to cannabis” in order to keep it “out of the hands of youth, and profits out of the pockets of criminals and organized crime.”

ya that's what it did.... no really.... the organized ones.with the licence....are the only ones ....sans....money.... and by making it so expensive... no youth could ever afford it... check and check.....the government successful again.....

parents are sleeping sounder than ever
 

AquaTerra

Well-Known Member
Funny how thousands and thousands of regular Canadians growing weed to make exta money so they don't live like slaves cheque to cheque is "organize crime" but hey they're not the same level of citizen as share selling for profit corporations. So nothing morally wrong with companies telling people BS to sell more shares as they are going bankrupt at the same time, it's just regular buyer beware, oh well.
 

Freedom seed

Well-Known Member
Trudeau in 2023: ahh so the plan was to fund the budget with all the the weed money, but eh we didn’t really make that much eh? Our expert consultants predicted 220 million by now but it’s gone from 66 million (2019) down to 10. The true costs however, were actually closer to a few billion. So unfortunately because of the black market and our never ending quest to save the children but fuck everybody else, TAXES are GOING UP! If you vote for me again I promise to try (haha) and get it right the third time.
 

gb123

Well-Known Member
Trudeau in 2023: ahh so the plan was to fund the budget with all the the weed money, but eh we didn’t really make that much eh? Our expert consultants predicted 220 million by now but it’s gone from 66 million (2019) down to 10. The true costs however, were actually closer to a few billion. So unfortunately because of the black market and our never ending quest to save the children but fuck everybody else, TAXES are GOING UP! If you vote for me again I promise to try (haha) and get it right the third time.
in other words



viva la legacy market :weed::clap:
 

The Hippy

Well-Known Member
Funny how thousands and thousands of regular Canadians growing weed to make exta money so they don't live like slaves cheque to cheque is "organize crime" but hey they're not the same level of citizen as share selling for profit corporations. So nothing morally wrong with companies telling people BS to sell more shares as they are going bankrupt at the same time, it's just regular buyer beware, oh well.
Can't take the people out of the "people's plant". We're still here and are not going anywhere soon.
 
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