The Canadian Constitution fiscal-stability clause.

[White_Unifier]

It could be quite simple really, that for the Government of Canada to borrow or for the Bank of Canada to print money, they would need the approval of the legislatures of each province. If it's a national emergency or something else of the sort, then they'd probably grant it. Otherwise, the government would be forced to choose to either raise revenues or slash expenditures.

 

[darkbeaver]

Canada will only be free again when it obeys the law of this land and aheres to the Bank of Canada Act.

 

[White_Unifier]

The Constitution could even include a clause that says that if a province's consent cannot be acquired within a reasonable time in accordance with the emergency, then its consent is implied.

 

[Curious Cdn]

It could be quite simple really, that for the Government of Canada to borrow or for the Bank of Canada to print money, they would need the approval of the legislatures of each province. If it's a national emergency or something else of the sort, then they'd probably grant it. Otherwise, the government would be forced to choose to either raise revenues or slash expenditures.

Imagine if the decision making around the Euro were that decentralised? You might have a currency that works for both Greeks and Germans, heavens forfend.

 

[DaSleeper]

It could be quite simple really, that for the Government of Canada to borrow or for the Bank of Canada to print money, they would need the approval of the legislatures of each province. If it's a national emergency or something else of the sort, then they'd probably grant it. Otherwise, the government would be forced to choose to either raise revenues or slash expenditures.

Good Idea....Here's a history lesson....
Go back in time and tell Trudeau Senior

BETTY'S EARLY EDITION: HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES

 

[White_Unifier]

Imagine if the decision making around the Euro were that decentralised? You might have a currency that works for both Greeks and Germans, heavens forfend.

How would it be decentralized if it's still the Federal Government that must decide how much the Government of Canada will borrow? My proposal would not take that away. It would simply add to that that every province must consent to it too.

If one province does not grant its consent, then the Feds would have no choice but to raise taxes or reduce spending even if all of the other provinces are begging the feds to borrow.

We could even do something similar at the provincial level. For the provincial government to borrow, it would need the consent of every municipal counsel, again maybe with some kind of exemption for emergency circumstances.

Good Idea....Here's a history lesson....
Go back in time and tell Trudeau Senior

BETTY'S EARLY EDITION: HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES

Can't go back in time, but let's hope that a future politician could propose it.

 

[darkbeaver]

Good Idea....Here's a history lesson....
Go back in time and tell Trudeau Senior

BETTY'S EARLY EDITION: HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES

He had a gun to his head and folded, they all did one by one, to the BIS.

 

[White_Unifier]

Bump.

 

[taxslave]

The Constitution could even include a clause that says that if a province's consent cannot be acquired within a reasonable time in accordance with the emergency, then its consent is implied.

OR not.

 

[White_Unifier]

OR not.

I was think for example if communication with the province was cut off. It would have to be damn serious in that case, an invasion or a natural disaster on such a large scale that communication networks and roads are cut off.

 

[Bar Sinister]

Waste of time. We'd just be copying the fragmented nature of the US where the law can change from state to state.