moved for leave to introduce Bill C-400, An Act to establish a framework for the continued access to and use of cash in Canada and to make related amendments to other Acts.
Mr. Speaker, it is my honour and privilege to rise today to table a bill calling for a framework on the access to and the use of cash. As all economies are, our economy is driven by the exchange of goods and services, or in other words, commerce. Typically, the settlement for that exchange is currency. In a world where commerce is moving at a rapid pace toward plastic, online and digital currencies, many Canadians, including many in my riding of Provencher, are concerned with their ability to access and use cash as currency.
For millions of Canadians, particularly the most vulnerable folks in our population, physical cash is essential to everyday life. Likewise, charities, community organizations and remote communities rely on cash to achieve their worthy goals. Finally, in a world where governments, banks and corporations are increasingly infringing on the privacy rights of Canadians, cash remains the only truly anonymous form of payment.
The bill calls for a national framework to ensure continued access to and use of cash in Canada. It would amend the Currency Act to limit the Minister of Finance's ability to arbitrarily and unilaterally call in bank notes. It would also amend the Bank of Canada Act to ensure that the central bank does not develop or replace hard currency with a digital dollar.
This common-sense legislation would benefit vulnerable Canadians the most, as well as those who work so hard to support them. I hope the House will support the bill.
(Motions deemed adopted, bill read the first time and printed)