Time is ripe to legalise marijuana

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The Greens are calling for cannabis to be legal and regulated in Victoria by 2024 under a proposal to be released by Greens MP Tim Reid on Monday.

The Greens propose that it would be legal for people over the age of 18 to buy cannabis, and that it would be taxed at 30% of sales – similar to alcohol. The Greens estimate this would raise $1.2 billion in budget revenue over 10 years:

Read said regulating the sale and consumption of cannabis would undercut the black market and reduce harm…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.