Cannabis Act Review: What to Know About Canada's Industry Evaluation | Summary and Q&A

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March 3, 2022
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Investing News
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Cannabis Act Review: What to Know About Canada's Industry Evaluation

TL;DR

The federal review of Bill C-45, also known as the Cannabis Act in Canada, is crucial for the Canadian cannabis industry. The review aims to shape the future of the industry and address key issues within it.

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Questions & Answers

Q: What is the purpose of the federal review of Bill C-45?

The review aims to assess the Canadian cannabis industry, provide insights, and shape its future. It is an opportunity for businesses and associations like C3 to provide input on how the industry can improve.

Q: Why is widening the scope of the review important?

The industry believes that a narrow focus on fine-tuning would be a mistake. By addressing broader issues like medical access, taxation, packaging, and product restrictions, the review can have a more significant impact on the industry's success.

Q: How are cannabis companies lobbying for changes in the market?

Cannabis companies have held meetings with policymakers to advocate for changes they want to see in the current cannabis market. Lobbying is seen as a pressing challenge for the industry in building relationships with government officials to address industry struggles.

Q: What are the goals of lobbying in the cannabis industry?

The goal of lobbying is to bring about incremental changes that help reframe the market's current dynamics. These changes should enable the industry to better compete with the illicit market and create a more successful environment for legal businesses.

Summary & Key Takeaways

  • The review of Bill C-45, which started in October, will take about 18 months and aims to provide insights and takeaways from the Canadian cannabis industry.

  • The Cannabis Council of Canada (C3) sees this review as a vital process and is interested in widening its scope beyond a narrow "fine-tuning" exercise.

  • Key issues within the industry include increased access to medical cannabis, an overhaul of the excise tax duty regime, packaging problems, and restrictions on THC limits for adult products.

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