OTTAWA — Marijuana hasn’t proven to be the cash crop the government expected, with cannabis excise tax revenues coming in at roughly half the original estimates. In the first fiscal year that marijuana was legalized, 2018 – 2019, the government took in $18 million in cannabis revenues, but had expected to take in $35 million. This year the government expected it would bring in $100 million, but now estimates it will see only $66 million. Those numbers represent only the federal taxes, with provincial taxes also being added to the purchase price. There is also an approximately $4 per gram gap in prices with legal cannabis selling for around $10 per gram and illegal products selling for closer to $6.

Source: National Post February 02, 2020 20:48 UTC