Tax hikes still off the table

Finance Minister Jim Flaherty says he’s worried about the volatility of the Canadian dollar but does not see it as a sufficient threat to his policy of not raising taxes.

OTTAWA — Finance Minister Jim Flaherty says he’s worried about the volatility of the Canadian dollar but does not see it as a sufficient threat to his policy of not raising taxes.

The finance minister said Wednesday he agreed with Bank of Canada governor Mark Carney’s views and approach in dealing with the surging loonie.

On Tuesday, Carney said the dollar was harming the economy and hinted strongly that he was prepared to keep the bank’s policy interest rate at the historic low of 0.25 per cent until at least next summer.

The dollar dropped two cents on the comments, but was up again 0.43 cents Wednesday to 95.6 US cents on a gain in oil prices.

Flaherty said he never believed the economy would bounce back strongly from the recession, and so far is being proven right.

”Our economy has stabilized but we have not seen evidence of firm, significant, entrenched economic growth in Canada,” he said during a scrum with reporters after question period in the Commons.

Just Posted

Schizophrenia a misunderstood illness, an Alberta expert says

Schizophrenia Society of Alberta campaign kickoff features TSN’s Michael Landsberg in Central Alberta

WATCH: Collecting coats and donations from drivers in Red Deer

Central Albertans made donations to keep children warm and neighbourhoods safe from… Continue reading

PHOTO: Fall Harvest Festival in Red Deer’s West Park

The West Park Community Association hosted the Fall Harvest Festival near West… Continue reading

Man dies in Hwy 2 collision near Ponoka

A 46-year-old man is dead following a three-vehicle collision on Hwy 2… Continue reading

Canyon Ski Resort aiming to open Nov. 10

The finishing touches are being put on Canyon Ski Resort trails just… Continue reading

WATCH: Blackfalds Fire teaches families about fire safety

An open house was held Saturday in support of Fire Prevention Week

Five things about what’s legal and what’s not in Canada’s new pot law

OTTAWA — Canada’s new law legalizing recreational cannabis goes into force on… Continue reading

4 men killed in shooting at child’s birthday party in Texas

DALLAS — An argument at a toddler’s birthday party in South Texas… Continue reading

German bus crashes on Swiss highway, 1 dead and 14 injured

BERLIN — A German bus crashed into a metal post on a… Continue reading

4 days after storm, large swath of Panhandle suffering

MEXICO BEACH, Fla. — Crews with backhoes and other heavy equipment scooped… Continue reading

Immigrants face hurdles to prove abuse by US agents

HOUSTON — Within hours of being booked at a Border Patrol station… Continue reading

Unicorns and pipelines: Notley and enviro-activist square off on Trans Mountain

EDMONTON — Alberta Premier Rachel Notley, with her arch pipeline foe sitting… Continue reading

A year into #MeToo, survivors’ stories resonate online and off: experts

Jenny Wright remembers scrolling through her social media feed a year ago… Continue reading

Emergency buzzer had been disabled in young man’s prison death: report

HALIFAX — An emergency intercom in the jail unit of a young… Continue reading

Most Read