Riding the High: The Cannabis Act’s Effects on Canada By: Annie Xie
On October 17th, 2018, recreational marijuana was officially legalized in Canada, making it just the second nation to do so. However, even with the law enacted, many citizens are still conflicted about the pros and cons of this hazy act. How will this affect the economy on both the national and global level? How will the government regulate this market when it has been unregulated for nearly a century? Will this act ultimately be beneficial for Canada, or is the nation taking on more than it can handle? Prior to being elected, Justin Trudeau’s Liberal Party actively campaigned for the legalization of cannabis. The party stated that by legalizing the drug, “we keep marijuana out of the hands of children, and the profits out of the hands of criminals.” This was met with varying responses, some supporting the movement to decriminalize the possession of cannabis and other strongly opposing it. However, the main controversy discussed was an area which is unclear for most people: is marijuana harmful? Although many in the general public typically view cannabis users in a negative light, researchers have not been able to test the drug to truly understand its long-term effects. Once the Liberal Party won the
federal election, and after months of discussion and revision between the House of Commons and the Senate, Bill C-45, the Cannabis Act, was finally given royal assent, legalizing recreational marijuana.
However, the main controversy discussed was an area which is unclear for most people: is marijuana harmful? Now with the law enacted, there are still many controversies arising from it. Many entrepreneurs have been excitedly anticipating legalization, viewing it as a fruitful economic opportunity. They defend the government’s choice as one which will create jobs and boost to the national economy. In their quarterly economic forecast, TD Bank stated that the “legalization of cannabis will result in a one time boost” for the economy. However, others say that the law would have benefited the economy more if the government had not set such restrictive policies. With tight regulations placed on the marketing and sale of the
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