A brand new report by drug coverage reform advocacy group Volteface has revealed the UK is lacking out on a potential £1.2bn medical cannabis industry and 41,000 potential jobs due to outdated licensing regimes.

Volteface claims that an appointment of a devoted cannabis tsar would enable the medical cannabis industry to develop. Currently, easy regulatory points have to be processed by the Home Office, which ends up in delays and is an expense to the taxpayer.


The report, titled “New Leaf: Beyond Brexit, Countering Covid,” makes a bunch of suggestions on the implementation of medical cannabis into the economic system, which is able to increase taxable income, create jobs and encourage funding.

Analysing the present medical cannabis industry

The report analyses the present medical cannabis panorama and descriptions easy steps that might be taken to enable the UK to capitalise on the rising sector. It referred to as upon many industry-leading medical cannabis corporations akin to Kanabo, who’re listed on the London Stock Exchange; Ciitech, a significant CBD firm and Rob Jappie; a companion at Ince and main cannabis solicitor.

The UK has lately made progressive steps to embrace the sector, with a string of medical cannabis corporations itemizing on the London Stock Exchange, with extra anticipated to observe. The Financial Conduct Authority greenlit the listings after figuring out it was legally sound to achieve this with medical cannabis being authorized since 2018 within the UK and booming gross sales of CBD associated merchandise.

Read extra at  https://www.healtheuropa.eu/report-calls-for-uk-to-capitalise-on-medical-cannabis-industry/111990/

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