Gov’t will be involved in selling of medicinal marijuana products too
“He (Premier Andrew Fahie) said that the government will be selling to collect revenue and taxes. He explained that the farmers will be allowed to set up businesses and noted that, when that happens, the government will be involved with the sale of marijuana” — 2020 SFC Report Stock image of a marijuana farm
Following the recent announcement that legislation is being drafted to facilitate “the production and sale of medical marijuana”, the 2020 Standing Finance Committee (SFC) Report have indicated that the Government of the Virgin Islands will also be directly involved in the sale of medicinal marijuana products.
During the SFC proceedings, Acting Head of Macro Fiscal Unit in the Ministry of Finance, Michelle Richmond-Phillips, listed medicinal marijuana as a revenue-generating measure that could be employed next year.
Responding to that statement, Opposition legislator Mark Vanterpool asked if the government would be collecting the revenue for this initiative via taxes or if the government would be involved in the sale of the marijuana.
Gov’t to do both
According to the SFC report, the Premier and Minister of Finance Andrew Fahie stated that the government will be doing a “mixture of both”.
“He (the Premier) said that the government will be selling to collect revenue and taxes. He explained that the farmers will be allowed to set up businesses and noted that when that happens, the government will be involved with the sale of marijuana and the taxes,” the SFC report said.
In giving a breakdown of the projected revenue to be collected by government through the sale of medical marijuana, the Premier said farmers would produce five percent of that revenue, 20 percent would be earned through ‘retail’, and another 20 percent would be earned through ‘taxes/import’.
Special strand of marijuana to be grown in BVI
Premier Fahie further told the SFC that “a number of Canadian and American companies had made presentations to the government and that research has been done to indicate a specific strand of marijuana that can be grown in the territory. The research also indicated how the farmlands could be used to grow it as well as how local persons can be involved in the process”.
The Premier said roughly 40 acres of land in Paraquita Bay will be used to facilitate the initiative and that 40 farmers will be trained on how to grow the ‘special strand’ of the marijuana in the territory.
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This new government is doing a GREAT job diversifying the economy
They may be a bit late to the show.
There is said to be a lot of overcapacity in the Medical Marijuana market even with the growth expected.
Let’s hope we are not too late.
Glad to see that the government hound another shady business to get into to replace the illegal offshore corporation business. Seems like the black man just can’t do anything that is honest and forthright. I love when you all spout how your all so religious. What a farce.
You don’t have to stick around for it.
About time. Hope it is thought out and organize thoroughly.
It would most pleasing to know that the territory and its people are benefitting from that billion dollar industry and not exploitative expatriate.
MACRO FISCAL MARIJUANA or very expensive marijuana as it is known else where is to be cultivated under the auspices of the government of the British Virgin Islands, makes for a good tourist board slogan
“COME AND GET HIGH IN THE BVI” Investments welcome for Joint Account Partnerships guaranteed not to go up in smoke in the first year. Join us for the adventure, Take a puff, relax and split the profits
Previous pot plant experience would be advantageous.
Tortola is not the only place tourist goes or will go to smoke pot. They can go to any State in the US that is legal and smoke pot or they can go to Amsterdam where they can walk into the smoke shops and purchase pot.
It will work out fine. Only thing, you have to have tight security to protect the crop.
How will the sale be controlled? Are individuals required to carry a medical marijuana card issued by a licensed medical practitioner?
I have a card that was issued from a Doctor, then you have to pay $250.00 for the card. You go to any where medical marijuana is sold and purchase whatever strand that you like. The police pull you over, you have the card, you good.
No GMOs please
so now the government selling drugs. LOL
WILL ALL THE GANJA PRISONERS BE FREED ????????
NOOOOOO!!!!!!!
They have to as well as clearing all the records of those who were convicted!
Stop chat foolery….they backside need to stay balo because during the time the crime was comitted it was not legal. Yall got more thc than brain cells.
Unfortunately no they don’t. If it was illegal at the time of their arrest then they were breaking the law and the conviction and sentence will stand. They can appeal when the new law is passed but an appeal won’t necessarily be granted. I’m not saying I agree with it… but that is just how it is.
It is absolutely necessary to also dicriminalise the possession of a small amount of weed for personal use. Or we have the ludicrous situation of the government growing huge amounts of ‘medical marijuana’ while the police are sticking citizens in jail right left and centre for having a small bit.
Cannabis produces about 500 chemicals; two of the most most well-known are THC (recreational) and CBD (medical). CBD is showing increasing promise to treat a host of diseases. This promise is opening the production floodgate; there are myriads of producers in the market. If the BVI wants to be serious producer, it must produce a high quality product at a lower cost. Will the BVI be producing cannabis with a high CBD content for home consumption? It is important to note that CBB grade marijuana does not produce a high; THC grade does. How will the production and sale of the drug be controlled? Like any other controlled drug, there must be a strict chain of custody? Will government have inspectors to ensure that the specified strain is being produced?
Government should not be in competition with the private sector. Government role and responsibility is to develop the policies and procedures governing the production and sale of the drug. Government needs to take its time and construct a solid framework. But I will not hold my breath. It will forge ahead with the same unconventional nonsense——-rush, rush, rush.
Wouldn’t it be best to just legalise and stay out of the trade?…Its becoming legal all over the place. Won’t the market be oversaturated .. Why not grow and manufacture your own food for a change?…. Would like to see the BVI food products exported not just weed and having to import everything!!!..
Excellent comments. You ate so right
Marijuana is not a benign product. Young developing teenage brains will be adversely affected by smoking marijuana. Why are we ruining this country by jumping on every band wagon? Is there no vision of the kind of society we want to have? This place will soon become a place that locals will not want to live in.
When it is regulated and one must go through proper channels you’ll see a decline in teenage usage. the problem is you can go to any dark alley and find weed, and because its illegal where ever you can find weed its most likely you can find cocaine, crack, guns etc…not that alcohol use isnt over the top amongst under age persons but i think you’ll find weed easier to lock down after regulation.
Yeah! *sips rhum and puts cigarette down to type*
Just like most crops …..its cheaper to grow it elsewhere….we can grow it but we will have to sell it for more and that will not be competitive or sustainable.
That the con that’s what the white man wants u to think .. all u got to do is plant that’s free
Since planting is free.
How come we cant grow food to feed ourselves.
When will politicians learn that it is a big mistake to get into commerce, prospect reef, airline and now pot. All millstones roung their, and our, necks. Regulation by all means and maybe taxes, but no other involvement
To much krippy on Tortola…the word is strain(s)Y’all know Colombia done legally exporting all over?Most of the loud coming from there. Leh we grow we own nah.
@ lodger. Gov mess up the Cruise pier / industry too
We hearing anything about the dues collected from ships ??
Chatting phukkry. Grow food!
All weed is not the same nor has the same effects, they can not go growing one type alone especially for medical patients.
Think outside the box and what are these Canadians & Americans doing for the gov to tell us what we should plant, what are they getting out of this?
Go c — bay there is already ‘special strands’ growing on the island, and people who know how OUR growing season works.
Good thing the private sector will be involved because this is a market where the consumer decides which ‘strand’ they want to use & they will decide who has the best product.
Presumably the US dollar cannot be used otherwise you’d commit a US. Federal crime? Problematic if most visitors are from there and we pretty much have to travel through there in transit. Use the HKD, CAD, KYD, EUR? Crypto?
Y’all rather use prescription pills that have in cocaine .. than a plant lol … Till the soil plant food an ganja
Great News! I support this 100%
I would invest if they are looking for investors. However, in order to invest, one have to be legitimate and at least have $50, 000 in said bank account.