Excise Excess Is a moratorium enough.?
The review of the Cannabis Act was 300 days late getting started. Proof of the foot dragging that often occurs in Ottawa.
Pro-active groups such as Stand For Craft
https://standforcraft.com/ presented reports to government several months in advance of the official announcement of the Cannabis Act review calling for a moratorium on the collection of the Excise Tax until the review of the legislation has been completed.
https://www.forbes.com/sites/amandasiebert/2022/05/31/new-report-warns-excise-taxes-are-destroying-craft-cannabis-cultivators/amp/
In the meantime many businesses in the industry are teetering on brink of failure due in no small part to an excessive Excise Tax.
Dan Sutton and George Smitherman are just two of the many members of the Cannabis Council of Canada (C3), that has been lobbying diligently for changes to the Cannabis Act.
https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/clntSmmry?clientOrgCorpNumber=361512&sMdKy=
The call to address the crippling effect of an excessive Excise Tax is consistent among industry stakeholders. Retailers and others are voicing many of the same concerns as LPs.
https://mjbizdaily.com/store-advocacy-group-retail-cannabis-council-of-canada-launches/
A moratorium on the collection of the Excise Tax is a logical stop gap during the review process. The key questions are;
Will it happen?
Will it be too little too late?
and..
Will it be enough to prevent a cascade of insolvency across the Canadian Mj space?
As it unfolds, this has the potential to be a bloody Greek tragedy or a political triumph?
A bit of a nail biter for Mj.
cheers