(Canadian) Federal budget kills the penny, cuts CBC spending
Source: National Post
OTTAWA The Conservative government tabled a pro-business budget on Thursday that also includes changes to Old Age Security, the death of the penny, cuts to the civil service and the CBC, but continued spending growth, too.
The budget was clearly a non-election year offering, lacking obvious vote-getting nods to families and interest groups and instead heavy on changes that promote research and development and will appease businesses especially those in the resource sector, where the government announced a streamlined one project, one review approval process.
(snip)
Mr. Flahertys budget will affect Canadians in their everyday life, beyond planning for retirement and outside their workplaces. As of June 1, 2012, travelers visiting the United States for more than 24 hours can bring home $200 worth of goods rather than the current $50, and a 48-hour-plus trip means bringing home upward of $800 in purchases double the current exemption limit.
The Royal Canadian Mint will no longer make pennies as of this fall, with Mr. Flaherty calling the penny a currency without any currency that costs more than a penny-and-a-half to make. He suggested Canadians donate their stockpiled pennies to charity.
Read more: http://news.nationalpost.com/2012/03/29/budget-2012-federal-canada/
Much more at the link.
Is it time for America to rethink the penny too?
One_Life_To_Give
(6,036 posts)It had a value of about a dime today. We could stand to lose both the Penny and the Nickel.
BB_Troll
(65 posts)Never thought I see the end of the 1 cent piece. I always thought the 5 cent nickel would be the first to go.
DFW
(54,387 posts)People will soon be hoarding their pre-zinc cents in the USA the way they hoarded gold after 1933 and silver after 1964.
The USA eliminated the half cent after 1857, a little long ago for a modern comparison. We eliminated the two cent piece, the half dime and the silver three cent piece after 1873, but how many people today know that the USA made half dimes, two cent pieces and three cent pieces anyhow?
SylviaD
(721 posts)The half dime was a silver coin half the size of a dime, and was called the half dime. Nickel was a difficult metal
to work with and wasn't used in US regular coinage until 1865, and wasn't used for 5 cent coins until 1866.
The half dime and the 5 cent nickel were both produced from 1866 to 1873, and after 1873, the only 5 cent
coins were the nickel ones. Half dimes had been minted, in one form or another, since 1792, although there
were some years when they made no 5 cent coins at all.
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ZenLefty
(20,924 posts)"What are you doing?"
"Saving the world. What are you doing?"
"Saving ... the penny."
Blue_Tires
(55,445 posts)magic59
(429 posts)and while their at it, nickel and dime too.
By the way, that is the only smart thing conservatives ever did in Canada, guess they are good for something.
alp227
(32,025 posts)Just wondering. (What are the differences between Great Lakes State and Canadian accents? very much or very little?)