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How can we measure the size of Australia’s illegal cannabis market – and the billions in taxes that might flow from legalising it?

By Jenny Williams, Professor of Economics, The University of Melbourne
Christiern Rose, Senior Lecturer in Economics, The University of Queensland

Policymakers will have to think carefully about pricing, taxation and providing discounts for buying in bulk. Else legalisation may not deliver a substantial tax windfall after all.

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