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e-337 (Bank of Canada)

Initiated by Trevor Millar from Surrey, British Columbia

Original language of petition: English

Petition to the Government of Canada

  • 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.
Government response tabled on January 30, 2017 (Sessional Paper No. 8545-421-107-01)
Open for signature
May 31, 2016, at 5:10 p.m. (EDT)
Closed for signature
September 28, 2016, at 5:10 p.m. (EDT)
Presented to the House of Commons
Elizabeth May (Saanich—Gulf Islands)
November 2, 2016 (Petition No. 421-00858)
Government response tabled
January 30, 2017
Photo - Elizabeth May
Saanich—Gulf Islands
Green Party Caucus
British Columbia