By Canadian Press

No immediate windfall from cannabis revenue after legalization: Alberta premier

Mar 23, 2018 | 3:45 PM

CALGARY — Alberta’s premier is warning that there will be no immediate tax windfall once recreational marijuana use becomes legal this year.

For the first time, cannabis revenue is being factored in to Alberta’s budget.

Alberta expects to take in $26 million in taxes once recreational marijuana is legalized.

But Premier Rachel Notley says Alberta expects to be in a net loss when it comes to marijuana revenue for at least two years.

Calgary Mayor Naheed Nenshi has expressed concern that, so far, there has been no mention of cannabis revenue sharing with municipalities.

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Notley says any initial money will be used to adjust to the change in federal law and focus on community safety.

“We (will) focus on keeping the product away from kids and that we keep the black market out of the distribution of this product,” said Notley. “The distribution of any remaining funds after we’ve got the system in place, we will deal with then.”

The Canadian Press