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.

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

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.”

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

U.K. Proposal Announced to Legalize Cannabis, Other Drugs

A group of ministers in the Liberal Democrat party are introducing a proposal to drastically alter the U.K.’s drug policies by legalizing cannabis, in addition to other “club drugs” such as ecstasy, accordinukg to the Sunday Times. The move is planned as a means to fix the U.K.’s failing war on drugs, which has resulted in an increase in crime, and a heavy financial burden on taxpayers.

Read moreU.K. Proposal Announced to Legalize Cannabis, Other Drugs