INDEPENDENT NEWS

Balance Budget with Buds

Published: Fri 22 May 2015 02:23 PM
Balance Budget with Buds
The Government would be guaranteed to reach a budget surplus if they decided to make cannabis legal in New Zealand, according to the Cannabis Party.
The current $684 million deficit could be paid off in full by taxing cannabis and hemp sales while reducing law enforcement costs.
Cannabis Party leader Julian Crawford said this policy could pay off the deficit within one year.
"Not only would regulation and taxation of cannabis balance the budget, it would also create thousands of new jobs," he said.
"Many regions of New Zealand would experience an economic boom if they were allowed to participate in the cannabis industry."
While New Zealand's government ignores the issue, a medical cannabis industry is already being established on neighbouring Norfolk Island.
If New Zealand waits too long it will lose the strategic opportunity to be an early player in the global marketplace.
Total legal cannabis sales are set exceed a billion $US dollars this year in Colorado.
ENDS

Next in New Zealand politics

Concerns Conveyed To China Over Cyber Activity
By: New Zealand Government
GDP Decline Reinforces Government’s Fiscal Plan
By: New Zealand Government
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
Parliamentary Network Breached By The PRC
By: New Zealand Government
Tax Cuts Now Even More Irresponsible
By: New Zealand Labour Party
View as: DESKTOP | MOBILE © Scoop Media