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11/8/2018 11:46:55 AM

Statistics Canada has confirmed it is embarking on a new exercise to gather data on the financial transactions of Canadians. A new Personal Information Bank (PIB) is being developed to track household spending and economic management, retail sales, wealth and income and related topics. StatsCan has existing authority to carry out the exercise, but it has also been vetted by the Federal Privacy Commissioner and modified by feedback it has received. The federal agency can compel data from your financial institution, but assures us the exercise is for blind statistical purposes, and will not be used as a credit or income check on specific individuals. The exercise is being used to improve Canada's statistical sampling of household spending in the country and all data will be anonymized before publication. It is necessary to have the information to keep up with the times, as more than 75 percent of purchases in Canada are now made on-line. Concerns about the process have been raised by Haldiman-Norfolk MP Diane Finlay and others, and Statistics Canada has declined our request for an interview on the topic.    

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