Legal Pot: Canada Will Sell Weed For $7.77 A Gram, And Will Lose $544 Million In The Process
As Canada gears up to legalize marijuana in July of next year, Ottawa agreed to sell weed at $7.77 a gram—$10 in Canadian dollars—which will only add to the country’s deficit.
The Canadian government announced that provinces will receive 75 percent of the tax revenues to help cover the costs of setting the system up.
“Our expectation is that, by keeping prices low, we will be able to get rid of the black market,” Finance Minister Bill Morneau told The Toronto Star. “However that will happen over time.”
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Source: Legal Pot: Canada Will Sell Weed For $7.77 A Gram, And Will Lose $544 Million In The Process