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Trudeau's departure is a turning point for Canada's cannabis industry Deepak Anand MJ Biz Daily Friday 24 Jan 2025 Trudeau’s bold decision to legalize recreational cannabis in 2018 not only transformed the nation’s social and economic landscape but also established it as a global pioneer in marijuana reform: Canada remains the only G7 nation to have federally legalized the plant both for medical and adult-use purposes. The impact of cannabis legalization on Trudeau’s legacy is undeniable. Recent polls indicate that 62% of Canadians support cannabis legalization, a testament to the policy’s enduring popularity and success. In fact, when asked about Trudeau’s top accomplishments, the largest proportion of Canadians point to the legalization of recreational cannabis, according to a survey by Leger, a North American market research company based in Montreal. Downsizing federal workforce However, as we look toward the future, storm clouds are gathering on the horizon. The prospect of a Conservative Party government led by Pierre Poilievre raises concerns for the industry’s trajectory. One of the most pressing issues is the potential downsizing of Health Canada’s Controlled Substances and Cannabis Branch. This critical department, currently employing more than 200 staff members, plays a vital role in regulating and overseeing our industry. A Conservative government focused on reducing federal spending could target this department for cuts, potentially creating bottlenecks in licensing processes, amendments and export license approvals. The CBD file, long emphasized as a priority in Health Canada’s forward-looking regulatory agenda, risks further stagnation under a potential Conservative government. Such delays could result in missed opportunities to expand sales channels into pharmacies, health food stores and other traditional retail outlets beyond cannabis stores. Additionally, it could prevent Canadian cannabis businesses from fully leveraging the rapidly growing global CBD market. The industry has been eagerly anticipating regulatory reforms to address challenges such as marketing restrictions and limitations on THC content in edibles. These much-needed changes could now be put on hold indefinitely, leaving licensed Canadian cannabis businesses struggling to compete with both the illicit market and international competitors. At a minimum, the Liberal Party government should prioritize advancing proposals already in progress before the next election - or risk being blamed by a potential Conservative government for creating a financially unsustainable and unviable industry. Cannabis reform and revenue at risk Over the past six years, a multibillion-dollar cannabis industry has taken shape in Canada, creating thousands of jobs and generating substantial tax revenue. Any rollback or stagnation of cannabis policies could threaten these economic gains, compromise patient access and stall Canada’s position as a global leader in the sector. It could also risk positioning the country as a cautionary example of the challenges surrounding cannabis legalization. As we navigate this uncertain terrain, it’s crucial that the industry unite and organize effectively. It must engage proactively with policymakers across the political spectrum, educate the public about the benefits of a well-regulated cannabis market and continue to demonstrate the positive impacts of legalization. Trudeau’s cannabis legacy To maintain its position at the forefront of this rapidly evolving global industry, the Canadian cannabis industry must advocate for continued support and refinement of the regulatory framework. Cannabis legalization should be viewed as an ongoing process that requires continuous improvement, not as an event having come and gone. As we bid farewell to the Trudeau era, let’s remember that the Canadian cannabis industry has become an integral part of the nation's economy and social fabric. It’s incumbent upon industry participants to ensure that any current or future government recognizes this reality and works to build upon the foundation laid thus far. Only through collective effort can Canada hope to preserve and expand upon Canada’s first-mover advantage in the global cannabis industry. Deepak Anand is the principal of British Columbia-based ASDA Consultancy Services, a distinguished global strategic advisory firm with a global perspective and cannabis industry-specific insights. He can be reached at d@deepakanand.com. https://mjbizdaily.com/trudeau-departure-is-a-turning-point-for-canadas-cannabis-industry/
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