Cannabis
Australia’s Parliament Is Set to Vote on Cannabis Legalization Bill Later this Month
Australia is considering federal cannabis legalization through a bill proposed by Senator David Shoebridge. Key provisions include home cultivation, cannabis cafes, and market regulation by the Cannabis Australia National Agency. Advocates highlight potential economic gains of up to A$36.8 billion over a decade, while critics cite health concerns. The vote on November 27, 2024, is pivotal.
Australia could soon join the growing number of countries legalizing cannabis for adult use. On November 27, 2024, the Australian Parliament will vote on a bill that could change the country’s drug policy forever. Is this a watershed moment for Australians? Let’s take a closer look at the proposal, its potential benefits, and the controversy it raises.
Content of the Act and its key assumptions
The bill, introduced by Senator David Shoebridge from the Green Party, would:
Legalize cannabis for adults at the federal level.
Establishment of the Cannabis Australia National Agency (CANA) , responsible for licensing, regulating the market and maintaining a register of cannais varieties.
Permission to grow and process cannabis at home for personal use, including the production of edible products.
The emergence of cannabis cafes where cannabis could be consumed in public places.
The act also aims to counteract the excessive corporatization of the cannabis market. The Greens clearly emphasize that the cannabis industry should remain independent of the influence of large alcohol, tobacco or pharmaceutical corporations.
Economic benefits of cannabis legalization
According to a report by the Parliamentary Budget Office, legalising cannabis could bring significant economic benefits:
A$28.2 billion over 10 years at 15% product tax.
$36.8 billion if the tax rate increases to 25%.
These revenues could be used for local community development, education and healthcare. What’s more, the Greens point out that legalization would allow billions of dollars to be redirected from organized crime to legal entrepreneurs who promote safe and high-quality products.
Public support and the position of the Greens
Senator David Shoebridge describes the vote as the “best chance” to end cannabis prohibition in Australia, with the Greens saying more Australians support legalizing cannabis and the current criminal laws do more harm than good.
“The world is moving away from harmful criminal approaches to cannabis. If we do not act, Australia risks being left behind,” the Greens report said.
Controversies and opponents’ arguments
Not all members of parliament agree on the need for legalization, however. The Senate Legislative and Constitutional Affairs Committee recommended rejecting the bill in May of this year. The main concerns of opponents include:
Increase in cannabis consumption – According to a report, more than one million new users could try cannabis once the legal market is introduced.
Health risks – particularly among young people who may be more susceptible to negative effects.
Liberal Senator Paul Scarr says the Australian public may not be fully aware of the potential health implications of legalization.
What will legalising cannabis change in Australia?
If the bill is passed, Australia would become one of the leaders in the global legalization movement. Possible outcomes:
Social: Decriminalizing cannabis can reduce stigma against users and ease the burden on the justice system.
Economic: New jobs, development of local companies and increased revenues to the state budget.
Political: Increased support for the Greens and parties promoting legal liberalization.
Summary – Will Australia join the global trend?
November 27th, 2024 could be a date that will go down in history in Australia. The vote to legalize cannabis is not just a decision to change the law, but also a test of Australian society and its willingness to adopt a modern approach to drug policy. Will Parliament take this bold step? The world is watching.
__
(Featured image by Dan Freeman via Unsplash)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Fakty Konopne. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
-
Markets1 week ago
Coffee Markets Retreat Amid Speculation, Weather Challenges Persist
-
Crypto3 days ago
El Salvador To Change BTC Policy to Access IMF Loan of $1 Billion
-
Cannabis1 week ago
Brazil and the Medical Cannabis Revolution, an Overview of Growth and Challenges
-
Crowdfunding23 hours ago
Tenuta Licupi, a Hub of Eco-Sustainable and Technological Wine in Puglia, Is Collecting on Mamacrowd