A co-founder of social network Bebo has launched a new disruptive UK political party centred on the legalisation - and taxation - of cannabis.

Paul Birch, who aided husband and wife team, Michael and Xochi Birch, in founding once momentous social network Bebo, last week launched the Cannabis Is Safer Than Alcohol (CISTA) to evoke a UK policy change towards cannabis.

After reinvesting his tech industry profits in CISTA, the newly launched manifesto claims the ‘War on Drugs’ has been lost.

It reads: "By reforming cannabis laws, we could raise £900m in duties and cut the deficit by £1.25bn or free up spending on essential public services."

Birch told Buzzfeed: “I started the party when I saw the news that there was definitely going to be an election in May and I realised our issue would be swept under the carpet like always, I thought, ‘Let’s start a political party and play the politicians at their own game.’

“People would be very happy to pay tax on cannabis, much like alcohol users are, we’re still working on how much tax that would be, but we’ll come up with a number which will be based on the numbers from Colorado.”

Birch currently sits as the chair of the party where he will look to replicate the process of decriminalisation as has been done so in several US states.

The move comes as Michael Birch relaunches the Bebo service as a trio of social mobile and tablet apps in a bid to inject new life into the brand.