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e-337 (Bank of Canada)

42nd Parliament
Initiated by Trevor Millar from Surrey, British Columbia, on May 31, 2016, at 5:10 p.m. (EDT)
keywords
Bank of Canada
Government borrowing
Interest rates
Government Response Tabled

Petition to the Government of Canada

Whereas:
  • Since 1974 Canadians have been paying billions in needless interest to international financiers called the Bank of International Settlements;
  • Before this, the publicly-owned Bank of Canada had a mandate and practice of lending interest-free money to federal, provincial, and municipal governments for infrastructure and healthcare spending;
  • Since this switch Canadian taxpayers have been needlessly paying anywhere from $20 billion to $60 billion a year in compounded interest; and
  • This is money that could have been used to better the lives of every single Canadian, and instead we have been needlessly paying large sums of money with no gain and massive losses for Canada.
We, the undersigned, citizens of Canada, call upon the Government of Canada to restore the use of the Bank of Canada to its original purpose, by exercising its public statutory duty and responsibility. That purpose includes making interest free loans to the municipal, provincial, and federal governments for ‘human capital’ expenditures (education, health, other social services) and/or infrastructure expenditures.
Saanich—Gulf Islands
Green Party
British Columbia
Petition presented to the House of Commons on November 2, 2016
Government response tabled on January 30, 2017
Open for signature : May 31, 2016, at 5:10 p.m. (EDT)
Closed for signature : September 28, 2016, at 5:10 p.m. (EDT)
Province / Territory
Signatures
Alberta
124
British Columbia
306
Manitoba
18
New Brunswick
21
Newfoundland and Labrador
5
Northwest Territories
2
Nova Scotia
26
Nunavut
1
Ontario
396
Prince Edward Island
6
Quebec
313
Saskatchewan
35
Other Countries
15
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