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Canada's finance minister wants money-making evil business to pass on savings

by Susan Jones | August 3, 2007 at 02:17 pm

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Flaherty is telling business to pass on those savings (from our higher dollar) to the consumer? pfffffft! thats rich coming from him.

Cut prices to reflect strong dollar, Flaherty says

Canadian Press

August 3, 2007 at 4:01 PM EDT

OTTAWA — Finance Minister Jim Flaherty says he is frustrated that Canadians are paying too much for imported goods and has told business leaders the government expects them to pass along savings from the higher Canadian dollar.

If consumers don't see benefits soon, he said, they should exert pressure by shopping around for the lowest prices.

In a wide-ranging interview from Coolum, Australia, where Mr. Flaherty was wrapping up two days of meetings with his counterparts from the 21 Asia-Pacific countries, he was upbeat about the economy and the prospects for bigger tax cuts in his next budget.

But he appeared displeased that the surging loonie has had little impact on prices Canadians pay on everything from food and books to cars.

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ianivs

at 14:27 on August 3rd, 2007

No kidding. Right now it is cheaper for me to drive down to the US to buy electronics, even if I have to pay taxes both there and here.

Susan Jones

at 14:35 on August 3rd, 2007

Its always been cheaper Ian, and keep doing it. Save your money, and, while you are at it toot about it really loud. WE are far to lazy, we should shop for the lowest price, and that means usually buying in the US. When we crow about it, when the bottom line dips, thats when business will listen, Canadians have been gouged and will continue to be unless we speak up. I still think this finance minister has gonads for stating what he did given his own recent history.

Barry ORegan

at 16:04 on August 3rd, 2007

I guess I shouldn't remind BC'ers that a lot of the beef in BC Supermarkets comes from New Zealand and Lamb from Austraila because they can sell it and transport it cheaper to BC than Alberta can raise and ship it's beef to us in BC a scant 600 miles away. Now tell me where is the logic in that? Of course Alberta beef sells for a premimum price across the border. Western Family Brand seems to be the only producer that sells beef, pork and lamb raised in Canada to Western Canadians.