Amid hundreds of layoffs at one of Canada's largest cannabis producers, industry leaders are calling for federal action to help save the sector they say is being killed off with high tax rates and other policies.
Canadian cannabis business owners are calling for help from the federal government, saying high tax rates and strict rules have left their businesses struggling to survive.
"You're hearing from producers here today because we as growers and manufacturers sit at the heart of the cannabis supply chain," said President and CEO of British Columbia company Pure Sunfarms, Mandesh Dosanjh. "We need to be healthy in order for the whole system to thrive but that's not reality. Producers stand here in peril. Canadian cannabis is in peril.".
Jonathan Wilson, CEO of New Brunswick company Crystal Cure, called for the federal government to reconsider the tax rate as he says it's not only pushing away current businesses but eliminating the path for new producers to enter and grow the sector. "We're paying a regulatory fee, which was premised on a profitable industry, which tobacco and alcohol don't pay," Smitherman said Wednesday.
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