United Kingdom: CIC responds to King Charles III's speech and says cannabis could grow the economy by billions of pounds

The co-presidents of the Cannabis Industry Council (CIC), Jamie Bartley and Callie Seaman, responded to speech of King Charles III following the announcement of the government's legislative agenda. In the speech, it was mentioned that economic growth is a top priority for the United Kingdom, but there was no reference to cannabis to improve the country's situation.

The CIC responded, and in a statement assured the government and the King that cannabis has the potential to create jobs and grow the UK economy by billions of pounds, without public charges for the government.

Dr. Callie Seaman, CIC co-president. Photo: DR | The Frank Magazine

“The government has said that economic growth is a top priority during its term. Cannabis has the potential to grow the UK economy by billions of pounds and create jobs, without the government spending any public money. However, the King's speech bills do not address this reality”, says the CIC.

Furthermore, news emerged this week that a number of British cannabis companies are considering IPOs in New York, which the CIC says represents “a sign of regulatory failure to promote British economic interests.” ”. The CIC states that it will continue to pressure entities and the government to adopt “reforms that reduce bureaucracy and liberalize the markets for prescription cannabis, consumer CBD and industrial hemp”.

CIC publishes Manifesto for Change

Last June, the CIC published a 'manifesto' on cannabis for change in the cannabis space, with a series of policy proposals for the Government, which aim to improve patient access to medicines, increase foreign direct investment in the industry and increase farmers' income. The specific policies proposed by the manifesto were as follows:

• A clear pathway for patients to access private prescriptions from unlicensed CBPMs at NHS appointments;
• Increased reimbursement of private prescriptions for cannabis-based medicines for certain indications by the NHS and insurers;
• Home Office that allows the electronic prescription of cannabis-based medicines, both from a legal and technical point of view (NHS Digital)
• Review of the Proceeds of Crime Act to allow legitimate foreign investment in the cannabis industry;
• Home Office allowing the extraction of CBD flowers with an industrial hemp license
• The Government must establish a new body that brings together the various regulatory responsibilities for cannabis.

CIC co-presidents Jamie Bartley and Callie Seaman. Photo: DR

At the time, CIC co-president Callie Seaman stated that “the cannabis industry has the potential to make substantial contributions to health, the environment and the economy. However, the industry is currently being stifled by unnecessary bureaucracy, unclear pathways for patients to access affordable prices, and arbitrary restrictions on capital investment. The Cannabis Industry Council is pushing politicians and lawmakers to make these uncontroversial but transformative changes to help patients and doctors.”

The government had shortly before announced positive changes to hemp licensing practices, including increasing permitted levels of THC in hemp crops to at least 0,3%. The Advisory Council on the Misuse of Drugs (ACMD) has committed to providing advice on the THC limit by October 2024.

CIC Co-Chair Jamie Bartley commented: “Rising temperatures in the UK could trigger a natural rise in THC levels in the hemp plant, pushing it above the threshold. This poses a risk to farmers, who may have to destroy any non-compliant crops. Increasing the THC limit would be a crucial vote of confidence in the agricultural sector, which has been hit by reduced subsidies and increased competition from countries with lower standards”, he warned.