This article was last updated on April 16, 2022
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Finance Minister Jim Flaherty reportedly announced to cut down import tariffs in order to regulate the towering cost of consumer goods in Ottawa. However, the Finance Minister apparently is not highly motivated about his idea when compare with his dire emphasis on the matter of elevated Canadian prices. He recently requested a Senate board to look into the price gap – a practice that may well easily finish by 2012.
Not only that, Flaherty also showed deep concern regarding Switzerland’s bold progression into foreign-exchange markets. According to the Finance Minister, this might add strain in money markets.
Flaherty reportedly said: "We were concerned when Japan moved unilaterally, and we are also concerned about Switzerland acting unilaterally. That’s a discussion I am sure we are going to have."
Moreover, he insisted the G7 counterparts to wait for the deficit cutback and balanced budgets. He requested the countries to embrace their loyalty to the G20 conference in Toronto.
Flaherty added: "We want to stay the course and I’ve had that discussion several times this week. There are those who are of a different view, so we’ll have, I’m sure, an engaging discussion."
Talking about the strategies adopted by Europe, the Finance Minister said: "It’s fraught with danger to keep kicking the can down the road."
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