You are here
Home > News > U.K. Government Becomes Part Owner in CBD Firm

U.K. Government Becomes Part Owner in CBD Firm

Here is the fascinating, if not frustrating, thing about U.K. cannabis reform: It is not like the government hasn’t seen the potential for years. Indeed, former Prime Minister Theresa May’s husband was the major shareholder in GW Pharmaceuticals before it was bought out.

The British government has increased its investment in medical marijuana, if not for deliberate reasons.

In the case of Grass & Co., a CBD manufacturer, the U.K. government became a part owner after its emergency start-up COVID loan converted into shares. To provide loans convertible to 1,190 businesses, The Future Fund was established during the COVID crisis. Three hundred thirty-five of the companies that received the funds were not able to repay them, and the equity invested in it has now been turned into equity.

What is British Cannabis Reform and where can I find it?

Strangely, the entire British cannabis conundrum has moved in unexpected directions. In 2018, the government allowed cannabis to be dispensed by prescription—the only problem was that most patients could not access the drug as it was not reimbursed by the National Health Service (NHS). Today, the majority of patients in the U.K. get cannabis through private clinics and Project Twenty21. Project Twenty21 has over 20,000 participants.

Other than this, the government is refusing to accept chronic pain patients. One in three U.K. adults suffers from chronic pain.

Earlier this year, the government finally allowed CBD products to go on sale—but not without setbacks. Because the approval process and application were so complicated due to setbacks, it was extended. The market currently has approximately 3,500 products and this number is likely to rise.

Also, there has been no real health reform in the U.K.

In the interim, recreational marijuana is largely off-the-record.

There are bright spots on the islands

There are some signs that THC reform, which includes real THC reform in British national politics has gained traction slowly.

One is the fact that cannabinoids have been shown to be effective in treating chronic pain. One prominent Harley Street clinic tried to start a trial of the effects on 5,000 people, but failed.

This is not all. Reforms are clearly underway on British islands. The Channel Islands of Jersey, Guernsey and Guernsey have both begun to develop high-THC cannabis cultivation plans. The Isle of Man is just south of England’s southern coast has already been designated as a site for large-scale cultivation.

Guernsey has so far been the only British location to take recreational cannabis seriously. This is because legislators have begun openly discussing how they can move forward.

Why are Reforms so fraught with setbacks?

The U.K. is facing many problems right now. This was actually the reason for the initial delay. Just months earlier, patients who were granted the prescription right to purchase cannabis suddenly experienced an interruption in supplies from Europe. After that, the British government intervened and denied patients suffering from chronic pain the right to receive cannabis treatment.

Beyond that, the economic and political chaos caused by the Ukraine war and the pandemic have been extensive. All this is without mentioning the numerous scandals taking place in Whitehall.

It is, unfortunately, the British who are most affected by every delay. However, it is clear that the British cannot sidestep the issue—and there are signs that the entire discussion is moving ahead, albeit painfully slowly.