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Five years of legal cannabis: a word from Beena Goldenberg

As we reflect on the past five years of cannabis legalization in Canada, it’s clear that this historic move has been a success for Canadians, cannabis consumers, and our governments alike. We’ve witnessed a remarkable journey from $0 to nearly $5 billion in legal sales annually, capturing an impressive 60 per cent market share. However, this journey has not been without its challenges for the nascent cannabis industry.

As we reach this pivotal five-year mark, it is imperative that our government takes swift action to address the issues that threaten the sustainability of our evolving sector. It must act urgently to slash excise taxes and regulatory fees, elevate the 10 mg cap on edibles to combat the illicit market, and loosen restrictions on consumer communication to destigmatize the industry.

To safeguard the future of legal cannabis and maintain the integrity of our public health and safety objectives, the government must prioritize the financial well-being of this industry. Without adequate support, the illegal cannabis sector will inevitably step in to meet the demand for cannabis products. Therefore, it is incumbent upon us to act now to secure the continued success of legalization, ensuring that our shared vision for a responsible and thriving cannabis industry becomes a reality.