UK Cannabis Reform Group Publishes Updated Plan to Regulate Cannabis
On Monday, September 30, 2024, CLEAR, the longest-established cannabis reform group in the UK, released the third edition of its plan for regulating cannabis. The plan, which has been updated and revised to include findings from the largest and most comprehensive study on the subject, “Taxing the UK Cannabis Market,” aims to provide a framework for how cannabis can be effectively regulated in Britain.
The full plan can be downloaded at https://clearmembers-uk.org/wp-content/uploads/2024/09/CLEAR-plan-V3.pdf.
According to the plan, between 1.5 million and 2.7 million people in the UK consume cannabis at least once a month, while 10 million people have used cannabis within the past year. The illicit market for cannabis is estimated to be worth between £2.9 billion and £8.8 billion annually, making it a significant source of revenue for organized crime. In contrast, only about 50,000 people consume legally prescribed cannabis on a daily basis, with the market for legally prescribed cannabis estimated to be worth approximately £250 million per year.
The plan also highlights the fact that about 1.8 million people in the UK use illicit cannabis for medical purposes, further emphasizing the need for a regulated market that can provide safe and legal access to medical cannabis. Additionally, the plan notes that legalizing and regulating cannabis with a £1 per gram tax could result in a net gain of between £3.3 billion and £9.5 billion per year for the Treasury.
CLEAR’s plan for regulating cannabis also draws on the experience of other jurisdictions where cannabis has been legalized and regulated. In these areas, there has been a significant reduction in underage use, highlighting the potential benefits of a regulated market.
For further information on CLEAR’s plan to regulate cannabis in the UK, please contact Peter Reynolds at +44(0)7880 872022.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.