Justin Trudeau’s liberal administration is now displaying every intention of keeping its pledge to transform Canada’s cannabis environment. Aside from that, much remains uncertain, including the size of the Canadian marijuana market, the number of people it will hire, and the amount of tax revenue the state will receive.
Previously in early 2016, CIBC World Markets reported that legalized marijuana might become a $10 billion a year business, with the federal and state governments collecting $5 billion in tax revenue. The study concluded that, when adjusted for the Canadian population and converted to Canadian dollars, the projection comes in at $10 billion, with up to 50% of it could be obtained as sales taxes and authorization fees.
Deloitte raised the stakes in a survey, claiming that legalization could bring in a $22.6 billion business in Canada The group surveyed 5,000 Canadian regular marijuana users and determined that marijuana sales will begin at about $5 billion per year.
Opportunity is undoubtedly the title of the game now, as Canada’s publicly listed marijuana firms have performed admirably. However, not everyone believes we are about to enter an economic renaissance.