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Upcoming Elections Will Determine the Fate of Canadian Cannabis

Ryan Allway

October 14th, 2015

Policy, Top Story

Canadians will vote in the most important election in the history of the country’s cannabis on October 19th, with Liberals boldly supporting cannabis and Conservatives looking to take a step backwards in cannabis policy if elected into office.

Liberal Legalization

The Liberal Party is committed to legalizing and regulating marijuana anywhere between a month to a year or two after being elected, according to Justin Trudeau, who vowed to make it a priority to at least get the process underway. Through these reforms, the candidate aims to fix a “failed system” and help “remove the criminal element” linked to the drug in order to better keep it out of the hands of children and drug traffickers.

Trudeau would use a model similar to Colorado and other U.S. states that have legalized marijuana, saying that he wouldn’t be comfortable with it being sold anywhere and that sales should be strictly regulated. By making it harder to buy off the streets, regulators may have an easier time keeping the drug out of the hands of children, while simultaneously raising tax dollars that can be diverted into public health and other public goods funds.

In Colorado, only licensed stores may sell cannabis and those stores are prohibited from selling most other products, including cigarettes and alcohol. Since legalizing the drug, the state has generated more than $100 million in tax revenue and studies have shown that teen use of the drug has declined. Regulators continue to struggle with some elements of legalization, however, including testing requirements and driving under the influence charges.

Conservative Opposition

The Conservative Party has taken a tough stance on marijuana by implementing mandatory minimum sentences and is seeking to permanently end personal growing. In addition, the party’s leadership says that cannabis is not a medicine and may pursue policies designed to end the legalization of medical marijuana if they are able to over the long-term. The party has already pushed Health Canada to spend millions on anti-cannabis campaigns.

“Tobacco is a product that does a lot of damage. Marijuana is infinitely worse and it’s something that we do not want to encourage,” said Stephen Harper during a campaign stop in Montreal earlier this year.

Conservatives believe that legalizing recreational marijuana would make it easier for children to access the drug, while insisting that legalization would create a marijuana lobby similar to the tobacco and alcohol lobbies that would eventually put the drug in corner stores. Many of its anti-marijuana campaigns have also focused on potential health consequences, such as the development of schizophrenia and harmful addictions over time.

NDP on the Fence

The NDP has taken the middle ground in the debate over cannabis legalization, saying that it would not legalize the drug, but would seek to decriminalize it immediately. According to Thomas Mulcair, the drug would need to be studied more before a decision can be made to fully legalize it – a position that has been criticized by cannabis advocates as a politically-driven decision to avoid attack by the Conservatives on their policy.

Historically, the NDP has taken a very liberal view on marijuana, having called for decriminalization for the past 40 years or so. If the statements that shy away from legalization are politically motivated, it’s possible that the part would change its mind when in office and decide to ultimately legalize the drug over time, especially if it can justify the move with clinical research as it promised to do on the campaign trail.

Looking Ahead

The majority of Canadians support the legalization or decriminalization of marijuana, which puts the Conservatives in the minority, but it’s uncertain whether marijuana alone will be enough to tip the elections in the favor of the Liberals.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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