Key Takeaways
- A majority of Canadians support the 2018 legalization of cannabis, with older demographics showing the highest approval.
- A Health Canada report highlights economic struggles within the legal cannabis industry, citing taxes and regulatory fees as significant burdens.
- Public and industry perspectives on the Cannabis Act's effectiveness and the legal market's ability to meet consumer demands vary widely.
Ontario, Canada--Five years following cannabis legalization in Canada, a survey by Research Co. indicates that 64% of Canadians back the legislative move, especially those over 55.
According to a CTV News report, support for the legalization of other drugs remains low, with only 12% endorsing the legalization of substances like ecstasy and cocaine.
“Support for the legalization of marijuana is highest among Canadians aged 55 and over (66 per cent),” Mario Canseco, President of Research Co. said in a press release. “The proportions are lower among those aged 35-to-54 (56 per cent) and those aged 18-to-34 (48 per cent).”
Most Canadians back the 2018 move to legalize marijuana, particularly among the older population. Economic challenges plague Canada's lawful cannabis sector due to hefty taxes and regulatory costs, as outlined in a Health Canada study. Opinions differ greatly regarding the Cannabis Act's success and whether the regulated market satisfies consumer needs.
Workplace and Legal Perspectives
Many Canadians believe employers should be able to administer drug tests, and a strong majority support pardoning past convictions for non-commercial cannabis possession.
Opinions vary across provinces, with Ontario showing the highest support for pardons.
Health Canada's Report Findings
A legislative review of the Cannabis Act by Health Canada unveils the financial challenges faced by legal cannabis operators.
According to a Cannabis Business Times report, high costs related to taxes, fees, and regulatory compliance are impeding profitability and sustainability.
Public health experts endorse the Act's advertising restrictions and THC limits, with some advocating for even stricter regulations.
Consumer Access and Preferences
The review also sheds light on consumer access to legal cannabis, with disparities in product availability and retail distribution, particularly in rural areas.
There's a call from some consumers for higher-potency edibles and more affordable CBD products, which are currently limited in the legal market.
Conversely, public health stakeholders caution against readily available high-potency and flavored products.
Industry Economic Condition
The Expert Panel from Health Canada highlights that despite the growth of the legal cannabis market, many businesses struggle to turn a profit.
Industry representatives suggest rethinking the regulatory fee structure and tax rates to alleviate financial pressures and ensure the market's viability.
What We Think
As Canada reflects on five years of legal cannabis, public sentiment remains largely positive while the industry grapples with economic sustainability.
The legal market's future hinges on balancing public health concerns, industry viability, and evolving consumer needs.
The discussion around legalization is complex, involving various stakeholders, and continues to shape the landscape of cannabis in Canada.
Nonetheless, many businesses have found some footing. Now that the market has tasted the benefits of legal cannabis, it's only to adapt to future positions on it by the government while finding new ways to reach out to a ready audience.
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