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

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