Take control of money from bankers and politicians and return it to the people
London, ON – Today, candidate for Prime Minister Pierre Poilievre issued the following statement:
The Trudeau government is ruining Canada’s money with American-style money printing that has inflated the assets of the rich and the cost of living for everyone else. This is Justinflation. After creating over $400 billion in cash out of thin air since 2020, Canada’s inflation rate has hit a 30-year high and housing inflation is hitting all-time records. Canada’s housing bubble is the second worst in the world. Since Trudeau took office, the Canadian dollar has lost half its purchasing power for buying homes, as real estate prices have doubled. Across western economies, governments have fueled inflation and created dangerous bubbles and a growing wealth gap.
Canada needs less financial control for politicians and bankers and more financial freedom for the people.
That includes the freedom to own and use crypto, tokens, smart contracts, and decentralized finance.
Government is ruining the Canadian dollar, so Canadians should have the freedom to use other money, such as Bitcoin.
The Blockchain economy is about more than new forms of cash. It’s also about decentralizing control of our economic decisions. A Poilievre government would welcome this new, decentralized, bottom-up economy and allow people to take control of their money from bankers and politicians. It would expand choice and lower the costs of financial products, and create thousands of jobs for engineers, programmers, coders, and other entrepreneurs.
To unleash this potential, a Poilievre government will simplify and streamline rules and taxes and will:
- Keep crypto legal and reject a China-style crackdown.
- Make the rules clear:
- Work with provinces to align rules and definitions across jurisdictions to make it easy for blockchain companies to operate across Canadian jurisdictions at the same time without a cobweb of contradictory rules. (Provinces control securities regulations. The goal would be to get them to voluntarily align their approaches).
- Simplify tax treatment of crypto so it is easy for buyers and sellers to comply.
- Apply the principle of treating “like-things-like”, so that laws, taxes, and regulations treat crypto assets the same as their equivalents in the traditional economy. Crypto assets that act like a commodity should have the same taxes and regulations as traditional commodities, like gold, for example. What is legal to do with Canadian dollars should be legal to do with crypto currencies and vice versa.
Choice and competition can give Canadians better money and financial products. Not only that, but it can also let Canadians opt-out of inflation with the ability to opt-in to crypto currencies. It’s time for Canadians to take back control of their money and their lives by making Canada the freest country on earth.