Through a series of speeches and Financial Post op-eds, former cabinet minister Maxime Bernier has been setting out an uncompromising right-wing agenda. He had Andrew Coyne applauding his proposal to freeze public spending. He had Stephen Gordon tweeting in support of his proposal to eliminate corporate taxes.
But his latest proposal has already been rebuked by Gordon and is unlikely to garner Coyne’s endorsement. Bernier thinks that the Bank of Canada should never expand the money supply. (Following today’s pro-deflation speech, his pro-deflation op-ed appeared on the Post’s website this evening and looks set to be printed tomorrow.)
The Financial Post has periodically run op-eds by Martin Masse, a former advisor to Bernier, calling for the abolition of central banking. I always wondered whether Bernier shared Masse’s perspective on monetary policy. Now we know: “Deflation is not a threat to our prosperity. . . . I believe that within a few years, we will need to hold a serious debate about returning to the gold standard.”