The report sets out allowing the sale of cannabis to over 18s; sales to be from specialist, single purpose retailers, with regulation over the potency of cannabis sold; allowing home-cultivation for personal use and small scale licensed cannabis social club; cannabis would be sold in plain packaging, over the counter by trained and licensed vendors; a new regulator to oversee the market; and that taxation could raise as much as £1 billion per year.
Party leader Tim Farron said: "Prohibition of cannabis has failed. We need a new, smarter approach and I welcome this report"
Norman Lamb MP added: "We have to be ambitious. It is not good enough to continue pretending that everything is ok, or that the current system is working."
Nick Clegg MP said: "Regulation means safer products, restrictions on sales to minors, and an end to the pointless criminalisation of millions of otherwise law-abiding people."
Panel chair Steve Rolles added: "Legal regulation is now working well, despite the fearmongering, in Colorado and Washington and will roll out across the US over the coming years."