The Cannabis Council of Canada (C3) is set to host its Canadian Cannabis Leadership Summit 2024 in Ottawa on Wednesday, October 1. This half-day event will take place at the National Arts Center (NAC), just steps away from Parliament Hill, from 1:00-5:00 pm, and will feature four panels focusing on the most pressing challenges the cannabis industry faces today.
Key Topics at the Summit:
- Excise Duty: The cannabis industry has long been burdened by Canada’s current excise tax system, which charges $1 per gram. C3 is pushing for a change to a 10% ad valorem tax to replace this flat rate, arguing that it would more fairly reflect the actual value of the product.For more background on the excise tax debate, check out this detailed analysis on the excise tax issues.
- National Excise Stamp: Another key issue is the need for a single, standardized national excise stamp. Currently, producers have to apply different provincial excise stamps, which is seen as inefficient and overly complicated. A unified approach would simplify logistics and reduce costs for producers.
- Regulatory Burden: The cannabis industry is weighed down by complex regulations. C3 wants to see reductions in these burdens, helping licensed producers operate more efficiently and competitively. Regulations have been a pain point for many, as outlined in this article on over-regulation in the cannabis industry.
- THC Standardization: A key conversation revolves around creating a standardized “unit” of THC content for products. Currently, the lack of a universal standard leads to confusion among consumers and makes compliance trickier for producers.
Leadership and Vision
C3 President Paul McCarthy, who took the helm in April, has been busy revitalizing the organization and steering it toward its goal of being the trusted voice of the Canadian cannabis industry. McCarthy’s vision is to not just bring attention to these critical issues, but to lead the conversation on a national level, involving experts from diverse fields like mental health, finance, and cannabis research.
He emphasizes the importance of focusing on the financial health of licensed producers:
“Job number one is ensuring financial viability for licensed producers. That’s why two of our four panels are focused on the excise tax and the excise stamp—our top priorities.”
Speakers and Panels
This year’s summit will feature industry heavyweights like:
- Beena Goldenberg, CEO, Organigram
- Orville Bovenschen, President, Pure Sunfarms
- David Lobo, CEO, Ontario Cannabis Store
- Dr. Mark Ware, Director, Allan Edwards Pain Management Unit
- Gillian Schauer, Executive Director, US Cannabis Regulators Association
- Barry Katzman, Managing Director, Peak Processing
These leaders will bring their unique perspectives on how Canada’s cannabis industry can overcome regulatory and financial obstacles. The inclusion of Gillian Schauer, representing U.S. cannabis regulators, highlights the broader North American context, as regulatory debates heat up across the continent. For insights into how the U.S. cannabis industry is grappling with regulation, check out this article on US cannabis policy challenges.
Future Plans
McCarthy has plans to expand C3’s influence by hosting more events in the future. The goal is to maintain a focused agenda at these gatherings while keeping them short to reflect the time constraints of both industry leaders and policymakers. This approach allows for deeper engagement on the top issues, particularly when it comes to influencing policy on excise taxes and financial viability.
McCarthy sums it up:
“We’re laser-focused on top priorities. The excise tax changes are critical for ensuring the financial health of our producers. That’s why we’re bringing this issue straight to Parliament.”
For more details on the Canadian Cannabis Leadership Summit 2024, click here.
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