Ontario eyes CA$600 million cannabis windfall, pledges online crackdown

On Mar 28, 2024

Ontario’s provincial government is budgeting for a record windfall of more than 600 million Canadian dollars ($442 million) in the next fiscal year from cannabis wholesale profits and its portion of the federal excise tax.

The windfall comes after a federal report to Canadian Finance Minister Chrystia Freeland revealed that “after five years of legalization, there are no licensed producers of legal cannabis products that are consistently profitable.”

According to the provincial budget released Tuesday for the fiscal year April 2024 to March 2025, the provincial government said it expects to receive CA$379 million from its portion of the federal cannabis duty, a 22.2% increase over the 2023-24 fiscal year.

That’s despite the fact that cannabis producers in Ontario had federal excise debt

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