Canada’s Finance Minister Warned About Cannabis Industry ‘Financial Distress’
Canadian Finance Minister Chrystia Freeland was warned last fall about systemic “financial distress” facing the country’s cannabis producers, including skyrocketing tax debt and widespread insolvencies.
The calamities facing the industry were spelled out in briefing materials obtained through an access-to-information request and shared with MJBizDaily.
One of the documents included with the briefing note, drafted by an official within the Department of Finance Canada’s Tax Policy Branch, updates Freeland on the financial state of Canada’s adult-use market.
According to the report, “It remains the case that after five years of legalization, there are no licensed producers of legal cannabis products that are consistently profitable.”
Read the full article at MJBizDaily
