Canadian govt to stop producing 1 cent coins

Freamon

Contractor Among Contractors

Freamon is too good to be a permie

Join Date:

Nov 2010

Posts:

1891

Thanks (Given):

0

Thanks (Received):

3

Likes (Given):

0

Likes (Received):

6
#1

Canadian govt to stop producing 1 cent coins

9 April 2012, 10:52

Real inflation news:

https://www.theglobeandmail.com/news...rticle2386120/

Canada is scrapping the penny, ending production this year of a coin that weighs down consumers’ pockets while adding little to their purchasing power.

The government announced in Thursday’s federal budget that it will shortly jettison the one-cent coin – a casualty of Ottawa’s drive for efficiency and thrift.

...

The increasing scarcity of pennies means Canadians will have to get used to cash transactions being rounded off if they’ve got no pennies on hand.

Ottawa is suggesting businesses round off cash transactions to the nearest five-cent increment but says it’s leaving this to businesses to work out for themselves.

This rounding off would occur after taxes had been applied to the purchase and would not be necessary for credit or debit transactions.

"A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon
Tags: None

Reply With Quote
TimberWolf

More fingers than teeth

TimberWolf is too good to be a permie

Join Date:

Oct 2007

Posts:

17534

Thanks (Given):

0

Thanks (Received):

5

Likes (Given):

0

Likes (Received):

6
#2

9 April 2012, 11:55

Sound centisible. More money than cents, Canadians don't make cents, etc.
Reply With Quote
Comment
AtW

I post more often than I breathe

AtW is always on top

Join Date:

Jul 2005

Posts:

63194

Thanks (Given):

2,286

Thanks (Received):

1,318

Likes (Given):

12,616

Likes (Received):

5,561
#3

9 April 2012, 12:10

That's clear sign of inflation - money losing their value, soon it will be like in Soviet Russia - regular denominations (if you ever heard that term).
Reply With Quote
Comment
wim121

Banned

wim121 has no reputation

Join Date:

Jun 2011

Posts:

1344

Thanks (Given):

0

Thanks (Received):

0

Likes (Given):

0

Likes (Received):

0
#4

9 April 2012, 12:19

This is week old news. The reason they stated why they were getting rid of it is that it costs more than a cent to create a cent.
Reply With Quote
Comment
Paddy

Double Godlike!

Paddy is a fount of knowledge

Join Date:

Jul 2006

Posts:

12932

Thanks (Given):

823

Thanks (Received):

619

Likes (Given):

4,533

Likes (Received):

2,348
#5

9 April 2012, 13:32

Bugger!

"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell
Reply With Quote
Comment
Freamon

Contractor Among Contractors

Freamon is too good to be a permie

Join Date:

Nov 2010

Posts:

1891

Thanks (Given):

0

Thanks (Received):

3

Likes (Given):

0

Likes (Received):

6
#6

9 April 2012, 15:37

Originally posted by Paddy View Post

Bugger!

Only in Hounslow:

"A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon
Reply With Quote
Comment