Germany is legalizing the sale of cannabis – a move that could generate $ 3.85 billion in annual tax revenue

By Nina Zdinjak

Germany could be the next country in Europe to legalize adult cannabis. In October this year, Luxembourg gave the green light to the legal cultivation of cannabis for personal use, and now Germany is about to decriminalize certain sales and consumption rules through a major change in the coalition’s drug policy, Express reported.

The political coalition, called “Ampel”, made up of the SPD, FDP and the Greens, is pushing for the legalization of cannabis sales.

Photo by Stefan Widua via Unsplash

“We are introducing the controlled supply of cannabis to adults for recreational purposes in licensed shops,” said a representative of the working group with the task of assessing the policy change, according to Der Spiegel, citing a report by Funke.

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In addition, the report reveals that the policy under the leadership of the German Chancellor Olaf Scholz will be reviewed for its social impact after four years.

Germany decriminalized medical cannabis about four years ago, and now analyzes by the Institute for Competitive Economics (DICE) at Heinrich Heine University Düsseldorf suggest that a fully legal cannabis market could bring Germany around 3.4 billion euros in tax revenue.

RELATED: Germany Is Trying to Decriminalize Minimum Weed Ownership and Import Jamaican Bud

In addition, around 1.3 billion euros would be saved annually for the judiciary. According to the same survey, the legal cannabis market in Germany would create 27,000 new jobs.

Given Germany’s 84 million inhabitants, legalization would create a huge cannabis market.

This article originally appeared on Benzinga and was republished with permission.

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