Marijuana Legalization Bill Introduced In Australian Parliament, Expected To Generate $28B In 9 Years

David Shoebridge, Greens Senator for New South Wales, Australia presented The Greens Legalising Cannabis Bill 2023 on Thursday which would allow adult-use cannabis across the country, reported The National Tribune. This is the first bill introduced in the federal parliament that would regulate the legal marijuana market.

The news comes some seven weeks after the Legalise Cannabis Party introduced a bill to legalize personal cannabis use in Victoria, New South Wales, and Western Australia's parliament all on the same day.

“With just a sprinkling of political courage and collaboration mixed with a truckload of common sense we can make this law and end the war on cannabis,” Shoebridge said. “It’s time to stop pretending that consumption of this plant, consumed each year by literally millions of Australians, should still be seen as a crime Everyone knows that it is not a matter of if we legalize cannabis in Australia, it’s a matter of when, and today we’re taking a huge step forward.

We just made history! The first ever bill to legalise cannabis across the country was introduced to Parliament - thanks to everyone who helped us make this the best possible bill we could present. It’s time to get this done ✅ pic.twitter.com/byvVlq3sw4

— David Shoebridge (@DavidShoebridge) August 10, 2023

According to previous estimates, cannabis legalization could bring $28 billion in public revenue in just the first nine years of operations.

Under the presented bill, adults would be allowed to cultivate up to six plants at home tax-free and the legislation would provide guidelines for setting up a commercial marijuana market.

“This is the chance for tens of thousands of quality green jobs, new small businesses, enriched regional economies, and the boon for tourism that will come with establishing a totally new legal industry,” Shoebridge added. 

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Photo: Benzinga edit with images by Gary Runn and 2H Media on Unsplash