Medical cannabis has been legal across Britain (and Northern Ireland) since 2017. Some 60,000 patients now legally treat their ailments with cannabis across the country. The case for the therapeutic effects of cannabis on certain conditions has been officially certified by the government since 2018, and research is ongoing to more areas of its medical uses. The UK is now one of the world’s largest exporters of medical cannabis, and the market is worth hundreds of millions of pounds a year.
In fact, the market is the second biggest in Europe, although it lags some way behind Germany. The UK is also the second biggest importer of medical cannabis in Europe, despite its own glut of supply. This, is at a time when the Treasury is supposedly scrabbling for cash to fill a potential budget hole of billions of pounds. Could the situation change any time soon?
The Medical Market is at a Crossroads
The current medical cannabis market, while providing many patients with life-changing treatment, is certainly not as efficient or widespread as it could be. 60,000 patients, considering the current price of medical cannabis, is no small market. But in Germany, which legalised in 2018, some 900,000 people have taken up treatment with cannabis.
UK-based specialist clinic Releaf is one of the biggest operations, providing tens of thousands of patients with cannabis medications through professional consultation with accredited doctors. The full service clinic – from consultation to prescription to delivery – is also moving into Germany, making the case for the UK as regional leader in medical cannabis.
As it should be by now, seeing as the UK has been a leading exporter of it since 2003. In fact, in 2019, it was the leading producer and exporter of medical cannabis in the world. However, the vast majority of that is not going to UK medical patients. Or, indeed, going anywhere.
The UK has one of the largest stockpile of medical cannabis in the world, and only a tiny percentage of which has been utilised for direct supply to patients. That is because:
The Economic Case for Cannabis Legalisation
Somewhat paradoxically, despite the evidence for its medical efficacy in many cases and the huge amount produced in the UK, cannabis remains a Class B illegal drug. That is, in the same bracket as ketamine, amphetamine and codeine.
There, are of course, some reasons for this. Excessive recreational cannabis use, in adolescence especially, has been linked to psychosis. It also smells, leading many people dislike the idea of it being legal to smoke in public. But public perception is changing on the question of legal weed, especially among more left-leaning voters.
Then there is also the economics. The first UK grown medical cannabis farm directly supplying medical patients only opened in 2024. Seven years after legalisation. If this could be sped up, prices would come down and more people would be able to afford private prescription.
Converting some of that medication supply chain could also lead to a renewed rise in exports, through in-demand medical flower for foreign markets as well as domestic.
On the flipside the UK – despite prohibition – also has a thriving black market for cannabis. Estimated to be up to 1 million people. A significant number of which could well be medical patients who are unaware of or are unable to afford a prescription.
Taking those people out of the black market lets them access clinically produced and recommended medications, while taking money away from criminal gangs and funnelling that into the taxable medical market.
Could Medical Laws Be Relaxed?
Of course, legalisation isn’t the only option for the UK medical cannabis business to grow into the world-leading industry it could possibly be. Public attitudes are now overwhelmingly in favor of allowing GPs to prescribe medical cannabis, which they can’t currently do.
Currently private clinics provide cannabis for arthritis, fibromyalgia, chronic nausea, PTSD, women’s health issues, insomnia, eating or appetite issues and a wide range of other common ailments.
Aside from the increasing research, one only needs to look at the thousands of anecdotal stories of life-changing treatment for epileptic children and people who were previously bed-ridden with pain, to see the effect it is currently having.
The UK has a problem with significant amounts of people out of work and on benefits. Some two million people in the UK are not in work because of sickness. Chronic pain is a highly cited factor for many not working, and also the most commonly prescribed for condition at UK medical cannabis clinics.
Putting these two together, it is not out of the question that a loosening of NHS and government rules on medical cannabis could help at least thousands of people back into work in some way. Which would of course, be good for the economy.
Andy Haldane, Burnham’s recent adviser on the economy who has not taken up a No10 job, told Andrew Marr on LBC:
“The market now suspects that this is a traditional tax-and-spend socialist government with better TikTok videos…
imposing windfall taxes on oil & gas or on banks or upping capital gains tax would […] repeat the mistake that Rachel made […] The Achilles heel, the fiscal Achilles heel of this government thus far has been its unwillingness and/or inability to cut public spending.”