Dean Del Mastro criticizes Bank of Canada, Jim Flaherty

Prime Minister Stephen Harper's former parliamentary secretary is criticizing the government and the Bank of Canada over monetary policy.

Dean Del Mastro says Prime Minister Stephen Harper, Finance Minister Jim Flaherty and the central bank have encouraged a devaluation of the dollar.

Del Mastro told Peterborough radio station CKRU that recent comments by Flaherty and Bank of Canada Governor Stephen Poloz have had the effect of reducing the currency's value by about five per cent.

Del Mastro was one of the most fiercely partisan Conservatives in the caucus and was a vocal defender of the government in the House of Commons. But last year he was charged under the Elections Act accused of improper election spending and resigned from the Conservative caucus. Del Mastro has said he has done nothing wrong.

In an interview with CKRU over the weekend, Del Mastro said a devalued dollar means higher costs for Canadians. "The effect of the Prime Minister, the Finance Minister, and the Governor of the Bank of Canada coming out and attacking the Canadian dollar was to reduce its value by about five per cent over the last two weeks," Del Mastro told the radio station in an interview. "That means the price of goods everyone has to buy...these things will, over time, go up in price."

Dean Del Mastro criticizes Bank of Canada, Jim Flaherty