An Act to amend the Currency Act and the Royal Canadian Mint Act (calling in of the cent)
This bill was previously introduced in the 41st Parliament, 1st Session.
Pat Martin NDP
Introduced as a private member’s bill. (These don’t often become law.)
Introduced, as of Oct. 16, 2013
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This is from the published bill. The Library of Parliament often publishes better independent summaries.
This enactment amends the Currency Act and the Royal Canadian Mint Act to provide that one cent coins will not be legal tender beginning on January 1 of the year immediately following the year in which the enactment is assented to, and will be called in following a proclamation by the Governor in Council.
February 9th, 2012 / 10:05 a.m.
Pat Martin Winnipeg Centre, MB
moved for leave to introduce Bill C-391, An Act to amend the Currency Act and the Royal Canadian Mint Act (calling in of the cent).
Mr. Speaker, it is my pleasure to re-introduce this bill and I, again, thank my seconder.
There are over 30 billion pennies in circulation in Canada today, many of which are underneath my bed in an old cookie jar. I believe everyone here has a similar jar underneath their bed.
In spite of this silliness, one billion pennies are produced by the Royal Canadian Mint every year. Each penny costs more to produce than it is worth and nobody wants them. We are spending a fortune producing something nobody wants and nobody needs, and that provides no functional service to the public anymore.
If any evidence is needed, it is the freebie jar at every cash register that says “Take one or leave one”. We do not see jars full of loonies there because loonies are worth something and pennies are not.
I am urging the Minister of Finance, perhaps in the budget or by the introduction of this bill, to eliminate the penny. I ask that he do us all a favour. I hope this receives broad support from my colleagues.
(Motions deemed adopted, bill read the first time and printed)