A Pennywise Federal Budget; Cuts, Spending, and Adios to the Canadian Penny
Image: Facebook; Imgur
The federal budget boasted plenty of cuts to Canada’s spending, but the most notable may lie in the end of the Canadian penny.
Due to inflation, and rising production costs, the federal government will stop the production and distribution of Canada’s smallest-valued coin this fall.
The penny is a “currency without currency,” Finance Minister Jim Flaherty said on Thursday. “It costs taxpayers a penny-and-a-half every time we make one. We will, therefore, stop making them.”
Read More: Bye Bye to the Federal Deficit?
Not to worry, though – for those of you penny hoarders, the coins will retain their cash value indefinitely, but will no longer be necessary at the register. CTV News is reporting cash transactions will be rounded to the nearest five-cent increment. Debit and credit cards, or cheque transactions, will remain un-rounded, and will remain precise, down to the cent.
This is not an entirely new idea. After all, Britain, Norway and Switzerland continue to thrive in spite of their penny-less ways. But are you going to be grateful for your lighter wallet, or are you already nostalgic for the days when a Tim Horton’s Turkey Chipotle sandwich cost $4.19?
Toronto’s Library Workers Back to the Books Today
Toronto’s library workers will head back to work at 10:30 a.m. Friday, after a freshly-ratified collective agreement with Toronto and the union was signed on Thursday night.
Librarians, customer service assistants and book pages started picketing on March 19, over concerns for employment security for part-time workers, and the service itself.
Read More: Toronto’s Inside City Workers Vote to Strike, May Join Picketing Library Staff
In a nighttime news release, the library workers union, CUPE Local 4948, boasted about success in arbitration; board efforts to convert full-time positions to part-time have been thwarted, for now.
And yes, this also means library fines have been re-instated. Joy.
Spike Lee Apologizes for a Twitter Tirade
The Inside Man director and legendary New York Knicks fan allegedly thought he was retweeting and publishing the address of George Zimmerman, the neighbourhood watch volunteer who shot Martin to death on Feb. 26, but he was mistaken. Instead, Lee posted the address of Elaine and David McClain, the parents of a son named William George Zimmerman, who had no connection to the crime. Eek.
Lee has since publicly apologized for his blunder, and according to the couple’s attorney, the Jeremy Lin enthusiast has offered to provide compensation for the unnecessary distress, and likely harassment.
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Joanna Adams writes the Morning Cable, and lots more, for Toronto Standard. Follow her on Twitter at †@nowstarringTO.
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