Legalisation of Cannabis In Finland : Analysis of the Economic, Societal and Fiscal Impacts

Abstract

This thesis will dive into the economic, societal and fiscal impact of the legalisation of Cannabis in the Nordic country of Finland. By looking into other countries with similar economic, environmental, and societal aspects that have already gone through the process of legalisation, such as Canada, Thailand, and Uruguay. We can identify the trends that occurred after the legalisation process as well as the different structures implemented in order to regulate the negative effects of cannabis legalisation. Furthermore, by uncovering Finland's current economic position we can determine whether it would be logical and profitable to proceed with the legalisation of Cannabis. First and foremost, a proper non-stigmatized understanding of what Cannabis is and how it can be used must be established in order to have an effective and unbiased judgement of the natural substance referred to as Cannabis. Furthermore, tax frameworks will be considered as it is a part of the process of legalisation, as well as different regulations in order to control and effectively regulate the impact legalisation has on society. The results of this research paper have found that the legalisation of Cannabis provides a substantial potential benefit for Finland as it would open up a whole new industry as well as economically the tax revenue gained from this new industry would be used to tackle the limited negative impact that legalisation would have on society as well as potential help tackle other societal challenges Finland faces such as overconsumption of alcohol.