Government urged to speed research into psychedelic drug to treat depression

Neoliberal think-tank claims a potential breakthrough is being held back by outdated regulations, Tim Wyatt reports

Psilocybin is found in more than 100 species of mushroom (AP)

The government has been urged to relax restrictions on a psychedelic substance to allow more research into whether it could be used to treat depression.

A new report by the neoliberal think tank the Adam Smith Institute argues psilocybin, a class A compound which naturally occurs in more than 100 species of mushroom, should be reclassified under the list of less harmful drugs.

This would permit companies currently testing if it can help treat people with depression complete clinical trials and more quickly bring a working treatment to the public, the free market think tank argues.