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Home 🌿 Marijuana Business News 🌿 Globe says BMO, others view pot business with caution 🌿Globe says BMO, others view pot business with caution
The Globe and Mail reports in its Monday edition that the Canadian pot business got a boost last month with the election of Justin Trudeau. The Globe's Mike Hager writes the Liberals promised to legalize marijuana, and one analyst expects that momentum behind the policy will take some of the starch out of the big banks' conservative approach to such businesses. Simon Fraser University economics professor Stephen Easton has estimated legalization could bring in $3-billion a year in tax revenue alone. In contrast, alcohol sales generated about $7.7-billion in total for both provincial and federal governments, while annual tobacco sales bring about $7-billion. None of Canada's largest banks would tell The Globe whether they serve the two dozen commercial pot growers licensed under the federal medical marijuana regulations or the hundreds of aspiring growers awaiting licences from Health Canada. The Globe has confirmed through talking to various licensed growers that...
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