$29M Could be Generated Yearly for Vancouver if Pot Taxed Like Cigarettes

Residential and commercial buildings are pictured in Vancouver, British Columbia, Canada, June 20, 2011. (Image via Reuters)
Residential and commercial buildings are pictured in Vancouver, British Columbia, Canada, June 20, 2011. (Image via Reuters)

Marijuana smokers could generate up to $29 million annually in Vancouver city if pot was taxed at the same rate as cigarettes, a new study has unveiled.

Vancouver, a west coast seaport in British Columbia province, has long tolerated marijuana.

The study was conducted by the 2018 Cannabis Price Index, and the data was compiled by pot-tech startup Seedo, the Vancouver Sun newspaper reported. It found that Vancouver, on the rank of 120 cites, it was the most 96th most expensive in marijuana prices. Weed in Vancouver is sold at the cost of about US$6.40 per gram.

As Canada readies to be the first developed nation to legalize weed, it said that each province will be in charge of its own regulation and distribution of cannabis, which also includes taxation.

Attempts to generate revenue coming from the would-be legal marijuana business are continuing in British Columbia.

Williams Lake, BC’s Capital of Pot?

Local politicians in Williams Lake, B.C., want the Interior city to become a hub for marijuana production, CBC News reported.

Last week, Williams Lake’s council voted unanimously to encourage regulated marijuana production in the hope of creating new jobs.

“Williams Lake has an abundance of key industrial land that would be perfect for growing cannabis in a legalized manner,” said city councilor Scott Nelson.

“We might as well take part in it and see if we can reap some benefits for our community and our region, and see if we can become the cannabis capital here in British Columbia.”

Adding cannabis to Williams Lake’s existing industries such as lumber, mining, and agriculture, could improve the job market, Nelson said.

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