Post-Brexit trade negotiations have ignored one very important multibillion-pound market – illicit drugs
The Tory manifesto pledged to ‘take a new approach’ to drug policy. With a chance to raise much-needed revenue, now is the best time to do so, writes Ian Hamilton
On the face of it, excluding an illegal market from Brexit trade negotiations appears sensible, but the story is far more complex when it comes to one particular industry: the ever buoyant, multibillion-pound trade in illicit drugs.
As a nation, we are a net importer of drugs. Although domestic cannabis farms have sprung up in recent years, we still rely on South America to meet our need for cocaine and Afghanistan for opiates. Demand for drugs shows no signs of slowing with an estimated 3.2 million people reporting drug use. The Home Office estimates the market contributes £5.3bn to the economy but the overall cost is over double that when elements like policing and health are factored in.
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