07/19/2013 09:41 EDT | Updated 09/18/2013 05:12 EDT

Giant inflatable Mike Duffy new mascot for taxpayer group

The Canadian Taxpayers Federation wants a referendum on abolishing the Senate and it's using a giant, inflatable Mike Duffy figure to promote its message.

The CTF unveiled the massive figure near Parliament Hill on Thursday, saying it was full of "2,150 cubic feet of hot air" and it's clutching a briefcase full of cash and has his hand open asking for more.

Gregory Thomas, CTF federal director, told reporters that Senate reform has been a failure and that Canadians should weigh in on whether it's worth keeping in a referendum in 2015 during the next election.

The CTF takes the position that the Senate should be shut down and that Canadians shouldn't foot the bill for "six-figure salaries, expense accounts, personal staff, lavish offices and expensive foreign travel for unelected Senators."

The CTF has launched a petition urging Prime Minister Stephen Harper to hold a referendum.

The custom-made inflatable cost almost $5,000.