What Does Trudeau’s Landslide Victory Means for Canadian Pot?
Ryan Allway
October 20th, 2015
Policy, Top Story
Liberal Party leader Justin Trudeau will be Canada’s new prime minister, beating out Conservative Party leader Stephen Harper by a landslide. After nearly a decade of Conservative control, the Liberals promise to bring change in the form of economic stimulus, environmental reforms, middle-class tax cuts, and of course, marijuana legalization. The big question now is how quickly Trudeau will act on marijuana legalization after entering office.
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Liberals Win by a Landslide
Liberal Party leader Justin Trudeau secured a landslide victory following October 19th’s elections, which prompted Stephen Harper, one of the longest serving leaders in the West, stepped down as the head of the Conservative Party after the scope of the loss became apparent. In a clear sign, the Canadian public indicated a strong desire for change and voted to enable Trudeau to institute a progressive agenda that looks toward the future.
Trudeau has promised to raise taxes on the rich and run deficits for three years in order to boost government infrastructure spending. While he comes in at a tough time economically, with record low oil prices, his progressive agenda could reinvigorate the economy and ultimately help the country regain its footing. And of course, marijuana legalization represents a key area where the economy could stand to benefit handsomely.
Legalization Expectations
The Liberal Party’s policy statement provides an overview of what to expect in terms of marijuana legalization now that the party has secured control.
We will legalize, regulate, and restrict access to marijuana.
Canada’s current system of marijuana prohibition does not work. It does not prevent young people from using marijuana and too many Canadians end up with criminal records for possessing small amounts of the drug.
Arresting and prosecuting these offenses is expensive for our criminal justice system. It traps too many Canadians in the criminal justice system for minor, non-violent offenses. At the same time, the proceeds from the illegal drug trade support organized crime and greater threats to public safety, like human trafficking and hard drugs.
To ensure that we keep marijuana out of the hands of children, and the profits out of the hands of criminals, we will legalize, regulate, and restrict access to marijuana.
We will remove marijuana consumption and incidental possession from the Criminal Code, and create new, stronger laws to punish more severely those who provide it to minors, those who operate a motor vehicle while under its influence, and those who sell it outside of the new regulatory framework.
We will create a federal/provincial/territorial task force, and with input from experts in public health, substance abuse, and law enforcement, will design a new system of strict marijuana sales and distribution, with appropriate federal and provincial excise taxes applied.
In numerous statements, Trudeau indicated that marijuana legalization was among his biggest priorities after entering office, since it’s responsible for such high social and monetary costs.
Investor Positioning
The legalization of marijuana across Canada could create significant opportunities for investors in the space. While the passage of the MMPR program paved the way for privatized medical marijuana, recreational marijuana represents a much larger market that could rival the tobacco and alcohol industries in size and scope, creating enormous opportunities for private and public companies operating in the space to establish themselves as leaders.
Trudeau’s plan to legalize recreational marijuana doesn’t detail any specifics regarding how the new laws will be structured or whether existing MMPR licensed producers will be advantaged, but it seems likely that companies that are already growing and experienced in the space would be in a good position to capitalize on the new market opportunity. As a result, investors may want to keep an eye on these companies moving forward.
With the already-legal medical marijuana industry expected to reach over $1 billion by 2020, the recreational marijuana industry could be worth upwards of $7 billion by some estimates, which is roughly a third the size of the alcohol industry. Investors will want to keep an eye over the coming year on a market that size.
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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