revenues Total Revenues from Excise Taxes Total Benefit Costs Total marijuana related health costs Additional costs from Marijuana related accidents Total Costs Net Benefit
332,711,063
211,820,458
2,906,236
3,250,260
2,846,334
3,138,535
971,074,267
102,391,774
763,139,111
161,557,211
5,492,376,233 181,326,252 7,931,069,525 375,542,518 6,530,005,151 255,430,064
189423915
6253674
273,530,832
12,951,905
225,210,199
8,809,404
5,681,800,148 187,579,925 8,204,600,357 388,494,423 6,755,215,350 264,239,468 24,240,533 5,349,089,085 7,233,526,090 286,102,649 5,992,076,238 102,682,257
Table 3: Estimated Benefits and Costs, Guyana. Potential excise revenues from marijuana sales were between GYD$ 2.85 for model 3 year 1 and GYD$3.25 million also in model 3. Estimated costs were significantly higher than the estimated benefits in this instance. Accidents costs ranged between GYD$6.25 million in year 2 of model 2 and GYD$273.53 million in year 1 of model 2; while external costs varied between GYD$181.33 million in year 2 of model 1 and GYD$7931.07 million in model 2 year 1. Overall, model 1 was estimated to produce the lowest benefit of GYD$545 million and model 2 the highest of GYD$1,073 million under model 2. Costs were, however, also highest (GYD$ 8,593 million) under model 3 and lowest (GYD$5,869 million) using the assumptions of model 1. See figure 9
Figure 9: Estimated Total Cost and Benefits, Guyana.
101