The Government Of Ontario Has Finally Given An Estimate On How Much Weed Will Cost
This could bring in $100 million a year.
Every time you see a news headline these days, it always feels like it has something to do with the legalization of marijuana, especially in Ontario.
Today, the Ontario Liberal government is making headlines again as the estimated cost of the soon-to-be-legal recreational marijuana has been revealed.
According to CBC News, the retail price of recreational marijuana will start in the range of $10 a gram, which could bring a tax windfall of more than $100 million a year.
Earlier today at Legislature, Finance Minister Charles Sousa said, "The intent is to have some uniformity with these prices across Canada." He also said marijuana pricing and taxation is to be discussed at the next meeting of the federal, provincial and territorial finance ministers, this fall.
Currently, the street price of a gram of weed varies across the country and according to an analysis released last fall by the parliamentary budget office, the current average price of weed in Ontario is $8.64 per gram.
This follows the news of marijuana set to become legalized nationwide next July, and the Ontario government announcing that it will sell.
Source: CBC News