I have several Cherry Laurels trees that I have been running through the chipper/shredder. Is this acceptable to use as mulch for my vegetable and flower gardens? I understand the leaves and stems are toxic.

Toxic in what way?

As I understand it, cherry laurel leaves and stems contain hydrocyanide.

I have never heard of that before. I would assume that any form of cherry or laurel type of tree mulch is biodegradable and acceptable as a mulch for vegetable and flower gardens.

The real truth is, that as long as your topsoil underneath is rich in compost and any extra necessary mineral powders (i.e. lime or gypsum, etc.) that you need to grow your vegetables and flowers, it doesn't really matter what type of tree mulch you choose. The beneficial soil microbes and other soil organisms will thrive in order to both enhance your soil health and management and feed and protect your crops.

Happy Gardening!