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.”

read the full story below

Source: Legal Pot: Canada Will Sell Weed For $7.77 A Gram, And Will Lose $544 Million In The Process

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.