Canada, being descended from Britain and all, has similar colour coding of its parties. The original two parties were Conservative (blue) and Liberal (red). The Conservatives are now called the Progressive Conservatives (ultimate oxymoron). As in Britain, these parties are often called the Tories and Grits, respectively.

We've gained some new parties in the last 50 or so years, starting with the New Democratic Party - the most left wing of them all - whose colour is orange. (Yuck! Sucks to be a latecomer!) The Bloc Québecois seems to be light blue and white. Since the Québec flag is blue and white, no surprise there. And the Reform Party - now renamed something unwieldy which ends or starts with Canadian Alliance - is green, though they're not terribly gung-ho on the environment, I think it was just the only colour left (well, right actually! )