The Canadian Action Party offers "Five essential interacting Pillars", of which Monetary Control is # 1.

Good: The Green Party of Canada, at its 2010 Convention, passed a resolution stating the party would consider using the Bank of Canada for a broad range of issues, as set fourth in the Bank of Canada Act's Preamble.
This is an excellent start, but there is resistance within the Party to move forward with this resolution. That is quite understandable, as there is little education and all but no public debate around this issue. Hopefully informed debate will move the Policy forward.

Fair: In its 2004 Policy Convention, The NDP claimed: '...Canada's NDP will give Canada clear choices on debt reduction by bringing some of Canada's national debt under the control of the Bank of Canada, as it used to be, and paying the interest to ourselves as opposed to chartered banks.'

But there has been no movement whatsoever on this claim! Now that the NDP has more power, let's see what they'll do. ..

Fail: The Liberal Party apparently has nothing to say on this issue.

But given its current status, it likely has little to lose should it promote intelligent monetary policy in response to government debt.

Abysmal: The Progressive Conservative Party, through the Federal Finance Minister, claims that "Using the Bank of Canada to create money would cause inflation."

But we are not talking about HOW MUCH money is to be created, but only by what means it is to be created. Apparently this distinction is a bit too slippery for the Federal Finance Minister to grasp.

For more, see our homepage Dialogue Box Political/Parties link.

The Monetary
Policy Monitor