Legalising and taxing cannabis could be worth as much as £1.25bn a year to the government, a study suggests. The report Licensing and regulation of the cannabis market in England and Wales: towards a cost-benefit analysis, quantifies the revenue to be gained from the regulation and taxation of the cannabis market in England and Wales. It estimates that reduced enforcement costs, such as police, court and prison time and community sentences, could save £300m or more alone, with the remaining three-quarters of the net benefit come from tax revenue.
The all-party parliamentary group on drug policy reform undertook an inquiry into the implications of the arrival of "legal highs" – a new substance appeared on the UK market every week in 2012. The prime minister says the current policy is working. I wish it were. But as the use of cannabis has declined by a few percentage points over the past few years, the use of "legal highs" has soared. The position for drugs users is therefore more dangerous than it was a few years ago.