On December 16, Canada’s Department of Finance announced the following:

“The 2024 Fall Economic Statement announces that Terry Fox will appear on the next $5 bank note. Sir Wilfrid Laurier will move from the $5 bank note to appear on the next version of the $50 note.”

There can be no doubt that the choice of Terry Fox is both inspirational and universally applauded. However, I have to express my disappointment with the decision to move Laurier over to the $50 note.

This was a missed opportunity. A full four years ago, after extensive consultations, a short list of 8 fully-vetted banknote candidates were submitted to Finance Minister Chrystia Freeland for her final decision.

Three years later, given the slow decision making process, I proposed a radical makeover of our whole banknote system. Continue reading →