Harper Government Welcomes Vote on Political Loans Legislation

(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 10/02/12 -- The Honourable Tim Uppal, Minister of State (Democratic Reform), today welcomed the vote and second-reading passage of the Political Loans Accountability Act. The bill seeks to bring greater transparency and accountability to Canada's political financing regime by banning corporate and union political loans and by requiring loans to politicians from financial institutions to be made at market rates of interest.

"The Harper Government took action to eliminate corporate and union donations in 2006," said Minister Uppal. "Today, we are continuing to strengthen the integrity of Canada's political financing system by moving forward with legislation to ban corporate and union political loans."

The proposed changes to the rules for political loans are fourfold:

The bill also amends the contribution limits for leadership contestants from a per-contest basis to a per-calendar year basis.

The bill is consistent with a recommendation from the Chief Electoral Officer of Canada. It reflects a legal approach to political loans already in place in several provinces such as Ontario, Quebec, Manitoba, Alberta and Newfoundland and Labrador.

"We are bringing greater integrity, accountability, and transparency to political financing with the Political Loans Accountability Act," said Minister Uppal. "Hardworking Canadians are expected to take out and pay back loans under strict terms and conditions, and the same should apply to politicians."



Contacts:
Kate Davis
Office of the Minister of State (Democratic Reform)
(613) 943-1835

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 02.10.2012 - 22:23 Uhr
Sprache: Deutsch
News-ID 189047
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