The Federal government has released its “What we heard report” as they continue their legislative review of the Cannabis Act.
Specifically, the report flagged the industry’s concerns around public possession and THC quantity limits for cannabis, restrictive rules on promotion and labelling, and the presence of different regional frameworks. The federal government added they are “planning to bring together a group of independent economic advisors” to provide the government with advice on economic impacts.
As RCC noted in our submission to the review, the report points to a need for further conversation around the excise tax and consistency between jurisdictions, as well as over-arching concerns around competitiveness and regulatory fees that can challenge growth in the legal market.
Canada’s cannabis sector is valued at $10.8 billion but has declined following a peak in December 2022.