Cannabidiol (CBD) Legalized in the U.K.

Cannabidiol (CBD), a nonpsychoactive ingredient in cannabis, has been legalized as a medicine in the United Kingdom.

The U.K.’s Medicines & Healthcare products Regulatory Agency (MHRA) announced today that it has reclassified CBD so that it can be legally used for medical purposes. Up until this point CBD was as illegal as the plant it’s derived from; cannabis.

“The change really came about with us offering an opinion that CBD is, in fact, a medicine, and that opinion was based on the fact that we noted that people were making some quite stark claims about serious diseases that could be treated with CBD,” Gerald Heddel, director of inspection and enforcement at MHRA, told Sky News. “It was clear that people are using this product with the understandable belief that it will actually help”.

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U.K.: Legalizing Cannabis Could Save and Generate Over a £1 Billion, Save 670,000 in Police Time

Photo credit: cannabisni.com
(Photo credit: cannabisni.com).

If the United Kingdom legalized the possession and taxed distribution of cannabis for those 18 and older, it would generate and save (from reduced enforcement costs) over £600 million, and may end up generating and saving over £1 billion (roughly $1.55 billion).

These numbers are according to a report from the nation’s Treasury Department, which was leaked to the media. The report found that taxing cannabis sales would generate between £397-£871 million per year, and would lead to estimated savings to “public services” of £211 million.

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Over 165,000 Signatures Collected on Petition to Legalize Cannabis in the U.K.

ukA petition calling on the U.K. to legalize recreational cannabis has garnered over 165,000 signature, well more than the 100,000 required to put the issue to a parliamentary debate.

“Legalising cannabis could bring in £900m in taxes every year, save £400m on policing cannabis and create over 10,000 new jobs”, states the petition. “A substance that is safer than alcohol, and has many uses. It is believed to have been used by humans for over 4000 years, being made illegal in the UK in 1925.”

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New Report: Legal Cannabis Market Would be Worth Over £1.25 Billion Annually in U.K.

A new report conducted by the Institute for Social and Economic Research has found that cannabis legalization in the United Kingdom could bring in at least £1.25 billioncannabismoney (roughly $1.6 billion) annually in the U.K., including £300 million being saved from reduced enforcement costs.

According to Professor David Nutt, director of the neuropsychopharmacology unit at Imperial College in London, the report provided strong evidence “that the costs of the current punitive approaches to cannabis control are massively disproportionate to the harms of the drug, and shows that more sensible approaches would provide significant financial benefits to the UK as well as reducing social exclusion and injustice”.

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