UK–(ENEWSPF)–24 September 2013. The Institute for Social and Economic Research, with the University of Essex, recently concluded a study into a cost benefit analysis of regulating and taxing marijuana in England and Wales. The study examined the potential economic benefits of regulation, as well as examining the possible social costs and social benefits of a policy change. The study, which was led by economics professor Stephen Pudney, found that England and Wales could save up to £300m per year on policing, prosecuting, and treatment if marijuana were regulated. Furthermore, by taxing marijuana, England and Wales stand to make a possible £900m per year. According to the study, the total possible tax benefit would be around £1.25 billion per year.
