- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Silver47 Exploration
Syntheia
CI Galaxy Bitcoin ETF
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
What Does Victoria's Inquiry Mean for Cannabis in Australia?
The state of Victoria completed an inquiry on cannabis in 2021. Will it actually change anything for the drug?
In August of 2021, the government of Victoria, Australia, released the results of its inquiry into the use of cannabis, taking into account 1,475 written submissions, dozens of expert witnesses and two minority reports.
Two years later, Australia-focused cannabis investors are wondering whether the document's findings will have an impact on cannabis use in the state, or even in the country as a whole.
The short answer? Probably not. But there's more to the story than that.
Why did Victoria conduct a cannabis inquiry?
Back in May 2019, Victoria's Legislative Council Legal and Social Issues Committee agreed to complete an inquiry on cannabis in the state. Although it was initially due for completion in March 2020, the deadline was extended twice, first to March 2021 and then again to August 2021.
The committee was chaired by Fiona Patten, who was a Member of Parliament and the leader of the Reason Party, which supports legalising cannabis. The committee broadly looked at two streams of cannabis policy reform — one, the legalisation of cannabis for adult personal use, and two, a legalised and regulated cannabis market.
The report puts forth 17 recommendations and 21 findings, but Patten said after its release that the Labor-heavy committee banded together to water down certain recommendations prior to the drafting of the report.
For example, according to reports from the Age, the first recommendation of legalising cannabis for adult personal use in Victoria became: "Recommendation 1: That the Victorian Government investigates the impacts of legalising cannabis for adult personal use in Victoria."
Evidence from the inquiry suggests that legalising cannabis would keep young and vulnerable people out of the criminal justice system, with state parliament estimates suggesting Victoria would save AU$725 million over 10 years in police and justice costs.
Despite the watering-down of her inquiry, Patten didn’t give up, later introducing a harm minimisation bill in March 2022. The bill was intended to focus government policy on treatment and education as opposed to criminal charges for drug use and possession. The bill was quashed, however, and lapsed in October of the same year.
Key highlights from Victoria's cannabis inquiry
Recommendations from the report broadly fall into several categories: investigating a legalised and regulated market, health and safety, and education for minors.
Here's a wrap up of the main items the Victorian government was told to look at:
- Investigate the impact of legalising cannabis for adult personal use in Victoria.
- Consider referring an inquiry to Victorian Law Reform Commission to investigate state and Commonwealth laws inhibiting legislation and regulation of the cannabis market.
- Provide ongoing funding to alcohol and drug sector organisations for drug diversion programs, and further funding to areas in regional and rural Victoria.
- Implement a road safety campaign about the dangers of driving under the influence of cannabis.
- Look at alternative testing methods for "drug driving," as current methods mean THC can be detected in a person's system long after being "affected by the drug," especially in the case of medicinal cannabis patients.
- Advocate to the National Cabinet to remove unnecessary barriers for accessing medicinal cannabis.
- Seek expert help on school drug education, avoid stigmatising users and promote help-seeking behaviour.
Minority reports included in Victoria's inquiry
Liberal Democrat David Limbrick, who participated in the inquiry, was "extremely disappointed" with the last-minute changes mentioned above and submitted a minority report in favour of legalisation.
It broadly supports the public policy Liberal Democrats have towards cannabis which is: "The Liberal Democrats support the legalisation of use, cultivation, processing, possession, transport and sale of cannabis, with protection of minors and penalties for driving while impaired."
A second minority report is also included — it comes from the Liberals and Nationals, both of which are firmly against legalising cannabis in order to protect public health and children. Signed by three members, it states that legalising cannabis only provides ready access and no deterrent to prevent cannabis use. They further wrote:
"The Liberals and Nationals support drug education programs warning of the harms of illicit substances, we support diversion programs that help get people off drugs, and we support other support services for those addicted to drugs. However, we do not support legalising cannabis."
Victoria Police Assistant Commissioner Glenn Weir told the inquiry in June 2021 that the use, cultivation and trafficking of marijuana causes "significant harm," and said he is firmly opposed to legalisation.
Will the Victoria's inquiry impact cannabis legalisation in Australia?
Any hopes of legalisation were quickly dashed after the report's release by Victorian Premier Dan Andrews, whose focus is on job creation and economic recovery from the coronavirus pandemic.
Speaking to reporters after it came out, he said he has "no intention" of legalising cannabis.
"If you want to know why, then have a look at the sections in the mental health royal commission that talk about dual diagnosis, drug-induced psychosis," he told reporters outside parliament.
"Others have a different view, they're entitled to have a different view, but as the leader of the government I've just made the government's position very clear."
The lack of support by major state parties for the Victorian inquiry may speak to a wider delay nationally for supporting decriminalising and legalising cannabis. Combined with the narrow defeat of the cannabis legalisation referendum in New Zealand, it does not look like decriminalisation or legalisation is likely to come anytime soon. The Age put it bluntly: “The Victorian Government says it has no plans to legalise or decriminalise recreational cannabis use at this time.”
As of January 2023, the Inquiry into the Use of Cannabis in Victoria is still tabled in parliament, despite parliamentary rules stating that the government has six months to respond after a report being tabled.
This is an updated version of an article first published by the Investing News Network in 2021.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Matthew Flood, hold no direct investment interest in any company mentioned in this article.
The Beginner’s Guide to Investing in Gold (Australia Edition)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
Matthew Flood is a writer and editor from Montreal, Canada. He's been writing professionally for four years on a wide array of topics ranging from investments and real estate to cookware and home improvement. Matt also enjoys creative writing and has written two novels and a novella.
Learn about our editorial policies.