New research has found that legalizing the sale and use of recreational cannabis could bring a €5 billion ($5.67 billion) boost to the German economy via annual tax revenues and cost savings within the police.
Should Germany proceed with legalization, the research estimates that it could bring in tax revenues of €3.4 billion ($3.86 billion) per year and save some €1.3 billion ($1.48 billion) in costs within the police and judicial system, alongside creating 27,000 new jobs.
The report, carried out by the Institute for Competition Economics (DICE) at the Heinrich Heine University in Düsseldorf and commissioned by the German Cannabis Association, comes amid ongoing discussions for the formation of a coalition federal government.
One of the areas under consideration in the three-way talks between the Social Democrats (SPD), the Greens, and the Free Democrats (FDP) is the potential regulation of the sale and use of recreational cannabis.
Using cannabis for medicinal purposes has been legal in Germany since 2017. However, its possession or distribution for recreational use remains illegal and can result in fines as well as time behind bars.
Earlier this year, research on the legalization of cannabis across Europe by market intel firm Prohibition Partners said that if Germany legalized its use by adults, the move would see that country alone constituting “over half of the European market until 2024.” It would also help propel the European cannabis market from its 2021 valuation of €400 million ($454 million) to some €3 billion ($3.4 billion) by 2025.
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The Philippine government has accused the Chinese Coast Guard of unleashing water cannon on two supply ships in a disputed stretch of the South China Sea, claiming its boats were blocked and forced to turn around.
Manila’s Department of Foreign Affairs detailed the encounter in a statement on Wednesday, alleging that a pair of supply boats en route to the Ayungin Shoal – also known as the Second Thomas Shoal – were stopped by three Chinese vessels and “water cannoned” before they could reach their destination.
“Fortunately, no one was hurt; but our boats had to abort their resupply mission,” Foreign Affairs Secretary Teodoro Locsin said, adding that the department had conveyed its “outrage, condemnation and protest of the incident” to Beijing’s envoy to the Philippines, Huang Xilian.
The acts of the Chinese Coast Guard vessels are illegal. China has no law enforcement rights in and around these areas. They must take heed and back off.
Though both China and the Philippines claim territorial rights to the Ayungin Shoal, The Hague’s Permanent Court of Arbitration ruled in the latter country’s favor in 2016. And despite Chinese objections, the Philippines has occupied the area for much longer, after its military purposely grounded a naval vessel on the shoal in 1999.
[3] I reminded China that a public vessel is covered by the Philippines-United States Mutual Defense Treaty.
Manila was also quick to note that the supply ships are “covered by the Philippines-United States Mutual Defense Treaty,” a pact inked with Washington in 1951 that calls for a US military response to any attack on the country, including “island territories under its jurisdiction in the Pacific Ocean, its armed forces, public vessels or aircraft.”
Beijing so far has not commented on the alleged run-in.
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