CISTA – Cannabis Is Safer Than Alcohol – claims that tax revenue gained from legalizing cannabis could cut the government’s deficit by up to £1.25 billion.
The party is inspired by the decision to legalize the recreational use and sale of marijuana in several US states, including Colorado and Washington.
Its election candidates will include Paul Birch, who co-founded the social networking site Bebo before it was sold to AOL for $850 million (£548 million) in 2008.
“There is a sound economic argument for legalization – properly regulated, the Exchequer would benefit from as much as £900 million if cannabis was made legal and properly controlled,” CISTA says on its website.
“In America, the state of Colorado has made $50 million in cannabis tax since legalization in 2014.”…more