Legalising cannabis would pack millions into budget cone

Advertisement

The Penington Institute’s CEO, John Ryan, says cannabis has become an integral part of the criminal economy, and he contends that the drug is a health problem rather than a law and order problem.

“It’s shocking … how integrated it is to criminal networks. It’s an own goal for us. Police are already really busy. Cannabis is a health problem, not a law and order problem”, he said.

A report by the institute says dope is now a $5 billion black market in Australia, generating massive profits for transnational gangs, which are then channelled into international drug importations and other outlaw sectors.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.