France Has The Highest Cannabis Consumption In Europe. It’s High Time To Tax It

With the nation’s finances in a parlous state, decriminalization could raise millions of euros – as well as cut crime.

France might not be broke, but the state of its public finances is, well, definitely not good. Total debt stands at €3.2tn – 112% of GDP. Interest payments on that debt are the second largest public expenditure after education (which includes everything from crêche, or preschool, to universities) and are higher than the amount spent on defence. And this year’s budget deficit is projected to be 6%, three points above the EU’s 3% limit.

If it weren’t for the euro, France might very well be in the throes of a fiscal crisis – as it is, interest rates on some French debt are higher than for Portugal or Spain.

In response, the prime minister, Michel Barnier, has proposed €20bn of tax rises (on large companies and the wealthiest 0.3% of households) and €40bn of spending cuts. Yet, with both Marine Le Pen’s National Rally (RN) and the leftwing New Popular Front (NFP) opposed to different components of Barnier’s upcoming budget, the French PM might not survive a no confidence motion when he tries to push the bill through parliament before Christmas.

I don’t necessarily agree with Barnier, but given the complexity of the challenge, I would sympathise with him if he were to throw up his hands, sprawl on a couch, light up a joint, and skip work. This actually raises a relevant question: why not legalise cannabis and tax it in order to save money on law enforcement and to raise money in taxes for government coffers?

I know that sounds far-fetched, and I’m under no illusions that Barnier is considering it, or ever would. So why bring it up? First, because crises provide openings for experimentation – something France needs rather than an endless replaying of the same debates over ending medical care for undocumented people or lowering the retirement age back to 60. And second, because the French are preoccupied with criminality and the economy, and this issue strikes at both.

Read the full article at The Guardian