Press release - Maxime Bernier proposes to protect Canadians’ standard of living with 0% inflation target

Barrie, ONTARIO, August 19, 2021 – A day after the inflation rate in Canada hit its highest level in a decade, the Leader of the People’s Party of Canada, Maxime Bernier, said he would change the Bank of Canada’s inflation target to protect the standard of living of Canadians. He made this announcement at a campaign rally in Barrie.

Statement by Maxime Bernier:

“Everyone has noticed how prices have gone up in recent months for groceries and other goods and services. Yesterday, Statistics Canada confirmed that the inflation rate is at its highest level since 2011, at 3.7%, way above the Bank of Canada’s 2% inflation target.

This is not surprising. The Bank has printed $400 billion to finance the Liberals’ gigantic deficit. It is essentially stealing money from us and giving it to the government to spend. Instead of paying all this spending directly with taxes, we will pay it indirectly with a loss of purchasing power and a debasement of our dollar.

Inflation is the most insidious of all taxes. It affects the poor and those on a fixed income like pensioners more than the rich. It distorts the economy and creates bubbles that always end up in a crash and recession.

Justin Trudeau stupidly said yesterday that monetary policy is not a priority for him. On the contrary, a sound monetary policy is crucial to maintaining our standard of living and ensuring the stability of our economy. A PPC government will reinforce the Bank of Canada’s mandate to control inflation with a new inflation target set at 0% instead of 2% so as to preserve Canadians’ purchasing power.”

- 30 -

Contact: For more information, please write to: [email protected]