Pot industry calls for greater urgency in review of Cannabis Act

globalnews.ca:

When Canada legalized recreational cannabis in 2018, there were still many unknown implications for healthcare, industry and the country at large. So the government made a promise: after three years, it would review the law to ensure its policies worked.But by the time the three-year mark arrived, the COVID-19 pandemic had diverted attention to more pressing public health concerns and a wave of cannabis companies desperate for changes to the legislation had already cut staff, consolidated or folded.The government review was finally launched in September 2022, and an initial report was released last week that summarizes what the panel heard from industry, health care and community groups.

It did not offer any recommendations and the deadline for the final report is not until March.Passing legislation based on its suggestions could take even longer, say cannabis stakeholders. They are preparing to mark the fifth anniversary of recreational pot legalization Tuesday and worry the longer they wait for regulatory change, the more the industry will struggle.“We obviously have a significant sense of urgency which is fuelled by the fact that after five years … about 80 per cent of our surveyed members cannot get to cash flow positivity,” said George Smitherman, president and chief executive of the Cannabis Council of Canada.“That’s not a good look.”The industry placed the blame on a cluster of problems: the 40-per-cent market share held by illicit sellers, a burdensome excise tax, a race to the bottom on cannabis prices and advertising restrictions that make it difficult to match customers with the right products.All of these factors are reasons why Smitherman, once Ontario’s deputy premier and a former high-profile mayoral