(March 15 – 17:15 ET) – Canadian Finance Minister Paul Martin denied the suggestion that the government is planning to privatize the sale of Canada Savings Bonds. The statement was made by conservative Member of Parliament, Scott Brison.
Martin says central bank administers the savings bonds while an agency of the Finance Department markets them. “What is being examined is whether in fact the status quo should exist or in fact they might merge the two under the Department of Finance,” Martin told the House in response to Brison’s question.
Brison says he uncovered internal documents showing that the Finance Department and Bank of Canada have almost finalized a privatization deal to turn the sale of CSBs over to three Canadian banks.
-IE Staff