Canadian Beer Industry Pushes for Higher Pot Taxes to Stifle Competition

When it comes to smoking weed, the grass is a little greener in Canada. “While cannabis companies in the United States can’t even have bank accounts, in Canada there are publicly traded cannabis companies on the stock market. In anticipation of nationwide legalization this year, the supply of marijuana continues to grow.”

Not everyone is psyched about the prospect of cheap, legally available weed, though. This week, trade groups representing Canada’s beer industry began urging politicians to hike up marijuana taxes in order to keep their products competitive.

Luke Harford, president of Beer Canada, a leading trade group for the country’s beer industry, spoke to the Canadian Standing Committee on Finance to address his group’s concerns about legal weed.

“Domestic brewers are concerned that legal recreational marijuana is going to have a negative impact on beer sales, which on a per-capita basis have already declined by 10% in the last 10 years,”

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