On April 20, 2023, the Canadian government introduced Bill C-47, the Budget Implementation Act, 2023, No. 1, which includes the long awaited proposed amendments to the criminal interest rate.
As discussed in our blog, Government Seeks Feedback on Lowering the Criminal Rate of Interest, the Government of Canada conducted consultations in respect of the criminal interest rate under the Canadian Criminal Code. We have been monitoring the government for any indication of the results of its consultations.