‘Overtaxed and overburdened’: cannabis industry suffocating under regulatory regime as feds take puff past excise relief in budget

Cannabis Council of Canada's Paul McCarthy says he's ‘bewildered’ at the feds' lack of action despite growing calls from industry, experts, and a House committee.

Between 2020 and 2023, the number of companies owing excise debt increased from 68 to 213, accounting for a threefold increase in outstanding debt from $52.4-million to $192.7-million. Without swift action from the federal government, there soon may not be a legal market left to tax, says Organigram CEO Beena Goldenberg.The Hill Times file photograph

News

BY STUART BENSON

April 24, 2024

With thousands of job losses since marijuana's legalization in 2018, cannabis companies large and small closing their doors due to an increasingly burdensome tax regime, and growing levels of unpaid federal debt, cannabis stakeholders say without urgent action, there may soo...

To keep reading, subscribe and become a political insider.

Only $7.76 a week for an annual subscription.

Enjoy unlimited website access and the digital newspaper.

Cancel anytime.

Already a Subscriber?

Get Today’s Headlines Newsletter

Your quick scan of the news you need each weekday to be the smartest person in the room.

By entering your email address you consent to receive email from The Hill Times containing news, analysis, updates and offers. You may unsubscribe at any time. See our privacy policy