COMMON CURRENCY FOR NORTH AMERICA

MOST CANADIANS (77%) THINK THE USE OF A COMMON NORTH AMERICAN CURRENCY IS LIKELY TO HAPPEN WITHIN THE NEXT TWENTY YEARS - 50% WITHIN THE NEXT 10 YEARS

HOWEVER, SIX IN TEN (58%) CANADIANS BELIEVE A COMMON CURRENCY FOR NORTH AMERICA WOULD BE A "BAD THING FOR CANADA"

ONLY 16% AGREE THAT "CANADA SHOULD REDUCE ITS ECONOMIC TIES WITH THE U.S.", WHILE MOST SAY "CANADA SHOULD DEVELOP CLOSER ECONOMIC TIES WITH THE U.S" (37%) OR, "KEEP ITS ECONOMIC TIES WITH THE U.S. THE WAY THEY ARE TODAY" (45%)

This National Angus Reid Group/Globe and Mail/CTV poll is based on a national telephone survey conducted between July 8th and July 14th, 1999 among a representative cross-section of 1,500 Canadian adults. These data are statistically weighted to ensure the sample's regional, age and sex composition reflects that of the actual Canadian population according to 1996 Census data.

With a national sample of 1,500, one can say with 95 percent certainty that the overall results are within +2.5 percentage points of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger for other sub-groupings of the survey population.

Canada's increasing economic ties with the United States since the beginning of the Free Trade agreement is a reality Canadians appear to be coming to terms with. Indeed, most Canadians (77%) think a common currency is likely to happen within the next twenty years - half (50%) say it is likely to happen within the next ten years. However, six in ten (58%) believe a common North American currency would be "a bad thing for Canada". Nevertheless, only 16% of Canadians suggest that "Canada should reduce its economic ties with the U.S.". Most Canadians think Canada should either "develop closer economic ties with the U.S." (37%) or "keep its economic ties with the U.S. the way they are today".

These are the highlights gleaned from a national Angus Reid Group/Globe and Mail/CTV telephone survey of 1,500 Canadian adults. Interviews were conducted between July 8th and July 14th, 1999. A sample size of 1,500 is said to have a corresponding margin of error of +2.5 percentage points, nineteen times out of twenty.

Most (77%) Think it is Likely that there will be a North American Currency within the Next 20 Years - Half (50%) within Next 10 Years Most Canadians (77%) think "there will be a common North American currency within the next 20 years". However, they are fairly evenly split between those who think it is "somewhat likely" (36%) and the slightly larger proportion who feel it is "very likely" (41%). For the Canadians who do not think the establishment of a common North American currency is likely, 15% said it is "not very likely". A mere 7% said that a common currency between Canada and the U.S. is "not at all likely".

When asked how likely it is that there will be a common North American currency within the next ten years, Canadians are evenly split between suggesting that it is likely (50%) and not likely (49%). However, a look at the intensity of the belief that a common currency will be used, shows that the majority of Canadians are in the middle ground - one third (32%) say it is "somewhat likely" and one third (34%) say "not very likely".

However, Six in ten Canadians Believe a North American Currency would be a "Bad Thing for Canada"

Six in ten (58%) Canadians indicate that they "think that a common currency for North America would be a bad thing for Canada".

• Residents of Saskatchewan/Manitoba (69%) and Alberta are the most likely to suggest it is a bad thing for Canada to share a common North American currency.
• Quebecers (51%) are most likely to suggest a common North American currency would be "a good thing" for the country. The Bloc Quebecois has shown support for a common North American or pan-American currency and this data shows that Bloc Quebecois supporters are in fact significantly more likely than other Canadians to say a common currency would be "a good thing for Canada" (63%).
• Men (40%) are more likely than women (34%) to support the establishment of a common currency.

What Do Canadians Think the Economic Relationship with the U.S. Should be?

Only 16% of Canadians agree that "Canada should reduce its economic ties with the U.S.". Most Canadians suggest that "Canada should develop closer economic ties with the U.S." (37%) or, "keep its economic ties with the U.S. the way they are today" (45%).

• Men (44%) are more likely to recommend a closer economic relationship with the United States than Canadian women (31%).
• Canadians with high income levels (45%) are more likely than those in the lower income brackets (31% - $30k, 35% - $30k-$60k) to suggest that Canada should develop closer economic ties with the U.S. Indeed, the lower income categories are most likely to agree that Canada should keep its economic ties to the U.S. the same as they are today (48% - $30K, 45% - $30k-$60k, 39% - $60k).

Reasons Given for Increasing Canada's Economic Ties with the United States

The most commonly offered reasons for suggesting that Canada should increase its economic ties to the U.S. include, "U.S. is our biggest trading partner" (20%), "U.S. economy is stronger" (19%), "would benefit Canada's economy" (16%), "the U.S. dollar is stronger" (14%) and "allows for better access to the U.S. market to sell Canadian goods" (10%).

For Canadians who would prefer to reduce Canada's economic ties to the United States, "sovereignty" (28%), "Americanization of Canada" (20%), "Canada should be independent" (15%) and "U.S. companies taking over Canadian companies" (13%) are the most frequently mentioned reasons for holding this opinion.

For further information contact:

Dr. Darrell Bricker
Executive Vice-President
Angus Reid Group
(416) 324-2900

The Angus Reid Group is Canada's largest and most well known Canadian research company. Established in 1979 by Dr. Angus Reid, the company serves 1200 clients via its six offices in Canada, four offices in the United States and its European office in London, England. With a compliment of 250 full time qualitative and quantitative researchers, the company has annual revenues of $65 Million and is growing at an average rate of 30 percent per year. The employee owned company also operates its own field service entity, Direct Reid, utilizing 450 CATI telephone interviewing stations for north American calling and a 50,000 household consumer panel in Canada.