Ten years after its predecessor committee last looked at the issue, it said change was now urgent.
The committee has said that a Royal Commission should be set up immediately so it could report back by 2015, when the next general election is due to take place.
There is no doubt that we have failed to deal with the dealers and we have not focused on the users. Only with this twin approach will we break the devastating cycle of drug addiction in society.
Drugs cost thousands of lives and the taxpayer billions of pounds each year. This is a critical, now or never moment for serious reform. If we do not act now, future generations will be crippled by the social and financial burden of addiction.
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Jobs with decent pay and flexibility are "few and far between" for single parents who are the main earner and carer, said the report.
Coal's share of the power mix had fallen to 7%, while wind climbed to new highs to provide 15% of the country's electricity.
State Department spokeswoman Heather Nauert said Pence "was ready to take this opportunity."