Cannabis legalisation offers a unique opportunity to strengthen Western Australia’s economy while addressing a range of social issues. Dr Brian Walker, MLC for the Legalise Cannabis WA Party, recently unveiled a comprehensive economic report that outlines the transformative potential of cannabis reform. Here’s how legalising cannabis could generate significant tax revenue and support vital public services.
💰 Tax Revenue Generation
A modest 25% taxation model, combined with a projected annual market growth of 1.5%, could generate $1.25 billion AUD in government revenue over the forward estimates (2023-2028).
💵 Reduced Enforcement Costs
Legalising cannabis would cut criminal justice expenses by reducing prosecutions and incarcerations. These savings could be redirected to health, education, and other essential sectors.
👷 Job Creation
Legalisation would open up jobs in cultivation, processing, and retail, creating opportunities for farmers, entrepreneurs, and workers across WA.
✈️ Tourism Growth
Cannabis-friendly events and attractions would boost tourism revenue, drawing visitors and stimulating WA’s hospitality industry.
🏥 Health Sector Funding
Tax revenue from cannabis could improve healthcare services, including mental health programmes and addiction treatment, contributing to better public wellbeing.
🎓 Education Investment
Funds from cannabis taxes could support education initiatives, such as harm reduction programmes and public awareness campaigns, promoting safe and responsible use.
🌍 International Success Stories
Places like Colorado, Canada, and Uruguay have shown the economic benefits of cannabis legalisation. Colorado alone generated over $2 billion USD in tax revenue in a decade, funding schools and healthcare. WA could replicate this success with a regulated framework.
Read Dr Walker’s full report for more insights.
Join the Movement
Support the push for legalisation by joining the Legalise Cannabis WA Party. Together, we can create a brighter future for WA.