2006-11-01

Constitution: Transfer Banking and Telecommunications to the Provinces

Since the Constitution is back on the table, I have the following suggestions:
-We get rid of the monarchy;
-We transfer responsibility for telecommunications and banking to the provinces.

Telecommunications and culture go hand in hand. So it makes sense to have provinces regulate radio and TV. In addition, since electricity is provincial (and often, like here in Edmundston, municipal) it would make sense to have the cable company, the phone company and the electricity company all under the same jurisdiction (they often share the same pole!).

Banking is regulated by the states in the USA. Notwithstanding the Savings and Loans scandal of the Reagan era, it seams to have worked for them. The vast majority of banking in Quebec isn't done in one of the main banks. The National Bank and the the Caisse populaire Desjaridins are the big actors in Quebec. They should be regulated by Quebec, not Ottawa.

In addition, having banking and telecommunication under provincial jurisdiction would bug Toronto. Toronto is rich and big enough. Time to transfer some wealth back to the regions. Otherwise, every non-oil-working English speaking Canadian might end up in the GTA!

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