Business
Bank of Canada survey reveals 86% of Canadians opposed to creating digital ‘dollar’

From LifeSiteNews
The main findings show that Canadians place a ‘high value on holding cash that is backed by their central bank and want to maintain access to bank notes.’
An overwhelming majority, 86% of Canadians, are opposed to the creation of a national digital dollar and want the government and banks to “leave cash alone,” according to results from a recent Bank of Canada (BOC) survey concerning the creation of a “potential digital Canadian dollar.”
In a press release yesterday, the BOC published the feedback it got concerning the creation of a “potential digital Canadian dollar.” The bank says it has been collecting information since 2020 with “stakeholders in the financial sector and civil society.”
The main findings from the BOC’s survey show that Canadians place a “high value on holding cash that is backed by their central bank and want to maintain access to bank notes.”
“Canadians value their right to privacy and many expressed concerns that a digital dollar could compromise that right,” the BOC said about another main finding from its report.
The BOC noted that should a digital dollar be created, it “should be easily accessible and should neither add barriers nor worsen existing ones.”
“A digital dollar should not add to financial stability risks,” the BOC said.
The survey, which was open from May 8 to June 19, 2023, received 89,423 responses. A total of 87% of respondents said they were “aware” of talk concerning the creation of a digital dollar.
The survey results come after the BOC in August admitted that the creation of a central bank digital currency (CBDC) is not needed as many people rely on “cash” to pay for things. The bank concluded that the introduction of a digital currency would only be feasible if consumers demanded its release.
Canadians prefer cash as the best payment method, but bank has not fully ruled out digital dollar
Some 93% of the BOC’s survey respondents said that they continue to use cash as a payment form in addition to the use of debit and credit cards. A total of 66% of respondents said that having access to a digital currency was not important.
A total of 88% of respondents said they were not interested in the creation of an additional “offline” payment method such as an offline digital dollar in addition to cash.
While 85% of respondents said they would not use a digital dollar, 12% said they would, with 3% being uncertain.
Of important note is that the BOC has not ruled out the creation of a digital dollar despite the report’s findings.
The BOC said it “aims to ensure that Canadians will continue to have the benefits of money issued by the central bank in an increasingly digitalized world.”
“Whether and when a digital dollar will become needed is uncertain. Ultimately, the decision to go ahead with a digital dollar belongs to Canadians, through their representatives in Parliament,” the BOC said.
As reported by LifeSiteNews in May, the BOC was looking for public feedback on whether such a form of digital currency, which experts have warned could mean an end to purchasing anonymity, would be viable for Canadians.
Overall, the report found that when all answers were combined, the creation of a digital dollar garnered 86% negative feedback.
According to the BOC, a CBDC would have to offer “compelling advantages to motivate these consumers – particularly the typical, well-connected consumers who account for most of the market — to adopt and use CBDC at sufficient scale to generate widespread merchant acceptance.”
Digital currencies have been touted as a way by some government officials to replace traditional cash.
As noted in a report from LifeSiteNews, experts warn that central bank digital currencies are a “control tool” of governments.
Conservative leader Pierre Poilievre promised that if he is elected prime minister, he would stop any implementation of a “digital currency” or a compulsory “digital ID” system.
The BOC at the time said that any final decision on when and if a digital Canadian dollar is issued would be up to the government.
Business
It Took Trump To Get Canada Serious About Free Trade With Itself

From the Frontier Centre for Public Policy
By Lee Harding
Trump’s protectionism has jolted Canada into finally beginning to tear down interprovincial trade barriers
The threat of Donald Trump’s tariffs and the potential collapse of North American free trade have prompted Canada to look inward. With international trade under pressure, the country is—at last—taking meaningful steps to improve trade within its borders.
Canada’s Constitution gives provinces control over many key economic levers. While Ottawa manages international trade, the provinces regulate licensing, certification and procurement rules. These fragmented regulations have long acted as internal trade barriers, forcing companies and professionals to navigate duplicate approval processes when operating across provincial lines.
These restrictions increase costs, delay projects and limit job opportunities for businesses and workers. For consumers, they mean higher prices and fewer choices. Economists estimate that these barriers hold back up to $200 billion of Canada’s economy annually, roughly eight per cent of the country’s GDP.
Ironically, it wasn’t until after Canada signed the North American Free Trade Agreement that it began to address domestic trade restrictions. In 1994, the first ministers signed the Agreement on Internal Trade (AIT), committing to equal treatment of bidders on provincial and municipal contracts. Subsequent regional agreements, such as Alberta and British Columbia’s Trade, Investment and Labour Mobility Agreement in 2007, and the New West Partnership that followed, expanded cooperation to include broader credential recognition and enforceable dispute resolution.
In 2017, the Canadian Free Trade Agreement (CFTA) replaced the AIT to streamline trade among provinces and territories. While more ambitious in scope, the CFTA’s effectiveness has been limited by a patchwork of exemptions and slow implementation.
Now, however, Trump’s protectionism has reignited momentum to fix the problem. In recent months, provincial and territorial labour market ministers met with their federal counterpart to strengthen the CFTA. Their goal: to remove longstanding barriers and unlock the full potential of Canada’s internal market.
According to a March 5 CFTA press release, five governments have agreed to eliminate 40 exemptions they previously claimed for themselves. A June 1 deadline has been set to produce an action plan for nationwide mutual recognition of professional credentials. Ministers are also working on the mutual recognition of consumer goods, excluding food, so that if a product is approved for sale in one province, it can be sold anywhere in Canada without added red tape.
Ontario Premier Doug Ford has signalled that his province won’t wait for consensus. Ontario is dropping all its CFTA exemptions, allowing medical professionals to begin practising while awaiting registration with provincial regulators.
Ontario has partnered with Nova Scotia and New Brunswick to implement mutual recognition of goods, services and registered workers. These provinces have also enabled direct-to-consumer alcohol sales, letting individuals purchase alcohol directly from producers for personal consumption.
A joint CFTA statement says other provinces intend to follow suit, except Prince Edward Island and Newfoundland and Labrador.
These developments are long overdue. Confederation happened more than 150 years ago, and prohibition ended more than a century ago, yet Canadians still face barriers when trying to buy a bottle of wine from another province or find work across a provincial line.
Perhaps now, Canada will finally become the economic union it was always meant to be. Few would thank Donald Trump, but without his tariffs, this renewed urgency to break down internal trade barriers might never have emerged.
Lee Harding is a research fellow with the Frontier Centre for Public Policy.
2025 Federal Election
Carney’s budget is worse than Trudeau’s

Liberal Leader Mark Carney is planning to borrow more money than former prime minister Justin Trudeau.
That’s an odd plan for a former banker because the federal government is already spending more on debt interest payments than it spends on health-care transfers to the provinces.
Let’s take a deeper look at Carney’s plan.
Carney says that his government would “spend less, invest more.”
At first glance, that might sound better than the previous decade of massive deficits and increasing debt, but does that sound like a real change?
Because if you open a thesaurus, you’ll find that “spend” and “invest” are synonyms, they mean the same thing.
And Carney’s platform shows it. Carney plans to increase government spending by $130 billion. He plans to increase the federal debt by $225 billion over the next four years. That’s about $100 billion more than Trudeau was planning borrow over the same period, according to the most recent Fall Economic Statement.
Carney is planning to waste $5.6 billion more on debt interest charges than Trudeau. Interest charges already cost taxpayers more than $1 billion per week.
The platform claims that Carney will run a budget surplus in 2028, but that’s nonsense. Because once you include the $48 billion of spending in Carney’s “capital” budget, the tiny surplus disappears, and taxpayers are stuck with more debt.
And that’s despite planning to take even more money from Canadians in years ahead. Carney’s platform shows that his carbon tariff, another carbon tax on Canadians, will cost taxpayers $500 million.
The bottom line is that government spending, no matter what pile it is put into, is just government spending. And when the government spends too much, that means it must borrow more money, and taxpayers have to pay the interest payments on that irresponsible borrowing.
Canadians don’t even believe that Carney can follow through on his watered-down plan. A majority of Canadians are skeptical that Carney will balance the operational budget in three years, according to Leger polling.
All Carney’s plan means for Canadians is more borrowing and higher debt. And taxpayers can’t afford anymore debt.
When the Liberals were first elected the debt was $616 billion. It’s projected to reach almost $1.3 trillion by the end of the year, that means the debt has more than doubled in the last decade.
Every single Canadian’s individual share of the federal debt averages about $30,000.
Interest charges on the debt are costing taxpayers $53.7 billion this year. That’s more than the government takes in GST from Canadians. That means every time you go to the grocery store, fill up your car with gas, or buy almost anything else, all that federal sales tax you pay isn’t being used for anything but paying for the government’s poor financial decisions.
Creative accounting is not the solution to get the government’s fiscal house in order. It’s spending cuts. And Carney even says this.
“The federal government has been spending too much,” said Carney. He then went on to acknowledge the huge spending growth of the government over the last decade and the ballooning of the federal bureaucracy. A serious plan to balance the budget and pay down debt includes cutting spending and slashing bureaucracy.
But the Conservatives aren’t off the hook here either. Conservative Leader Pierre Poilievre has said that he will balance the budget “as soon as possible,” but hasn’t told taxpayers when that is.
More debt today means higher taxes tomorrow. That’s because every dollar borrowed by the federal government must be paid back plus interest. Any party that says it wants to make life more affordable also needs a plan to start paying back the debt.
Taxpayers need a government that will commit to balancing the budget for real and start paying back debt, not one that is continuing to pile on debt and waste billions on interest charges.
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