Revenue would accrue from the taxation of the cannabis business, while savings would be made from reduced police and judicial costs.
Cannabis legalization could bring Germany around € 4.7 billion in tax revenue and savings and create up to 27,000 new jobs, according to a new study.
The study was carried out by the Düsseldorf Institute for Competition Economics (DICE) under the auspices of the Heinrich Heine University in Düsseldorf and commissioned by the German Hemp Association.
Production and sales of cannabis could generate tax revenue of around € 3.7 billion, the study shows. The savings would come from a reduction in police and judicial costs of around € 1.3 billion.
Germany may legalize cannabis use as an intoxicant. A new government is currently being formed in the country, and legalization is one of the election goals of all parties nominated to the government.
It has been legal in Germany to use cannabis as a medicine since 2017.
Read more: Germany may legalize cannabis use as an intoxicant, as it is considered a good idea by all three governing parties. What would that mean for Europe?
The European cannabis market is projected to be worth more than € 3 billion in 2025. This year, the market is worth about 400,000 euros, says a report by Prohibition Partners, a consulting company focused on the cannabis industry.
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