Canada's Ontario Chamber of Commerce calls on province to allow cannabis lounges

Canada's largest provincial business advocacy body is calling on the Ontario government to allow cannabis consumption facilities as part of efforts to modernize and support the sector. It's one of six recommendations from the Ontario Chamber of Commerce to address major barriers inhibiting the industry's growth potential, which the chamber says are discouraging investment and squeezing profit margins for stores and producers. Dan Sutton, CEO of cannabis producer Tantalus Labs, told MJBizDaily: The Canadian cannabis industry continues to suffer from a distinct lack of revenue and cash flow, let alone profits. High taxes and tariffs are hindering the business models of companies of all sizes. The Chamber's submission noted that while cannabis is one of Canada's fastest growing industries, an "overly restrictive" regulatory regime is holding back the industry's economic potential. The Chamber recommends that "the province work with the federal government to ensure that regulations strike the right balance between safeguarding public health and ensuring that cannabis companies are able to develop unique brands and products that can effectively compete with illegal actors."

Information source: new.qq.com/omn/author/8713560