TORONTO — Recreational marijuana isn’t expected to turn a profit for the Ontario government this year, the province’s finance minister said Wednesday, noting that there would be no projections for pot revenues or profits in the upcoming spring budget. Ontario is working on opening standalone stores to sell recreational marijuana once the drug is legalized this summer. Sousa said the excise tax will be used to offset the start-up costs for the province’s retail stores and other activities around legalization. “That won’t be enough to cover out outlays and our expenses,” he said of the tax revenue. Sousa acknowledged there is a range of opinion on the prospects of profits from recreational marijuana sales, including some critics of the government’s approach who suggest pot sales will be lucrative.

Source: National Post January 24, 2018 20:32 UTC