Ottawa, ON - Pierre Poilievre announced today that as Prime Minister he would restore the Bank of Canada’s independence by adopting Andrew Scheer’s bill to empower the Auditor General to audit the Bank of Canada, and by asking the Auditor General to audit the Bank’s $400 billion quantitative easing program to determine why the Bank missed its inflation target so badly.
Poilievre will also stop the proposed Central Bank Digital Currency.
“Justin Trudeau has threatened the Bank of Canada’s independence with a half-trillion dollars of deficits that required the central bank to print money and cause inflation,” said Poilievre. “Money-printing deficits have sent more dollars bidding up the price of goods. Inflationary taxes have made it more expensive for businesses to produce those goods. The more Liberals spend, the more things cost. That is JustinFlation. I will end it, by restoring central bank independence, mandating an independent audit of all the money printing, and stopping the risky Central Bank Digital Currency.”
A Pierre Poilievre government will keep the Bank of Canada out of retail banking by banning its proposed Central Bank Digital Currency. The Bank of Canada indicates it is in the “development phase” of its own digital currency and that the final decision will rest with the Minister of Finance.
“The Auditor General must investigate whether the Trudeau government interfered with the Bank of Canada’s independence, by using $400 billion of newly-printed money to fund its deficits. We need answers on why inflation is now triple the Bank’s 2% target.”
“I am running for Prime Minister to put people back in control of their lives by making Canada the world’s freest nation,” said Poilievre. “That includes taking control of money away from politicians and bankers and giving it back to the people.”
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