Tuesday, 4 February 2025

Cannabis law reform

Rachel PAYNE (South-Eastern Metropolitan) (13:35): My question is for the Treasurer. Firstly, I would like to congratulate you on your historic appointment to the role of Treasurer. I wish you all the best in your role.

It is no secret that Victoria is in a challenging financial position. Naturally this government will be looking at a range of ways to create budget savings. Currently millions of taxpayer dollars are being wasted on policing and imprisoning cannabis consumers. The only winner in this is the illicit market. Criminal organisations are making millions of dollars, and these profits are funnelled back into criminal activity instead of into Victoria’s economy. So in your new role as Treasurer, will you consider the cost savings of regulating cannabis?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (13:36): I thank Ms Payne for her question and her kind comments. As you have indicated, there is no surprise that a party with your name would use the first opportunity to ask a Treasurer in this house the question that you have asked. So it is not unexpected, but given I was expecting it, I did just review some of the exchanges that we have had in the past. Of course I could have conversations with you about health impacts and justice impacts and the like, but because I am the Treasurer you have asked me in relation to that.

I can confirm, Ms Payne, that as the Treasurer in this new portfolio I will always look for ways to optimise the revenue streams and to target expenditure in a way that addresses the priorities of Victorians and benefits them the most. I do look forward to continuing discussions with you to progress shared priorities, noting that the government has no plans to legalise recreational cannabis at this time.

Rachel PAYNE (South-Eastern Metropolitan) (13:37): I thank the Treasurer for her response. Obviously that is going to be on the top of my agenda this year, so I appreciate your reply.

By way of supplementary, there is an overwhelming amount of data on the economic benefits of regulating the adult personal use of cannabis. Legalise Cannabis Victoria commissioned advice from the Parliamentary Budget Office about the value of the illicit cannabis market, and they estimated the value to be between $1.02 billion and $1.27 billion in 2022. So I do ask: will you meet with us to discuss the findings of this analysis and the role of cannabis in improving Victoria’s finances?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (13:38): Ms Payne, I am always happy to meet with the members of this chamber, and you can put on the agenda whatever you like.