Cannabis has added $43.5B to Canada’s economy since legalization: report

Click to play video: 'AG report finds lack of information, accessibility when it comes to cannabis products'
AG report finds lack of information, accessibility when it comes to cannabis products
Ontario Auditor General Bonnie Lysyk said on Wednesday that her office’s audit of the Ontario Cannabis Retail Corporation found that more action is required on the corporation’s social responsibility to make information available and accessible for the public on the health risks, responsible consumption, and differences between regulated and non-regulated cannabis products – Dec 1, 2021

A new report says cannabis has contributed $43.5 billion to Canada’s gross domestic product and $13.3 billion to Ontario’s since recreational pot was legalized in October 2018.

The report from Deloitte Canada and provincial pot distributor, the Ontario Cannabis Store, says about $25.2 billion of that contribution comes from labour income and 151,000 jobs.

The report says for every dollar in revenue or capital expenditures, the industry adds about $1.09 to Canada’s GDP and $1.02 to Ontario’s.

For every million dollars in revenue or capital expenditure, the cannabis sector sustains about four jobs in Canada and Ontario each.

The research also estimates that the industry has generated $15.1 billion in Canadian tax revenues and $3 billion for Ontario.

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Consumer purchases alone generated $2.9 billion in sales and excise taxes.

Click to play video: 'Clusters of cannabis stores raise concern in Toronto'
Clusters of cannabis stores raise concern in Toronto

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