Cannabis referendum: What it means for business and the New Zealand economy

Recreational cannabis would give New Zealand a share of the US$100 billion (NZ$150b) global cannabis market, if this year’s referendum on the issue leads to legalisation.

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In September, Aotearoa will become the first country to vote in a national referendum on recreational cannabis.

Voters will be asked whether they support the proposed Cannabis Legalisation and Control Bill, which has been developed to help give New Zealanders an idea of how the law might work.

Here’s what it could mean for business and the economy:

No. Medicinal cannabis is already legal under the Medicinal Cannabis Scheme, which came into effect on April 1, enabling access to cannabis-based products through a prescription.

In 2017, the Government lifted restrictions on the drug cannabidiol (CBD), allowing GPs to prescribe it without the Ministry of Health’s permission.

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