Federal budget to tackle U.S.-Canada pricing gap
Published Monday, February 10, 2014 1:47PM EST
Last Updated Monday, February 10, 2014 6:57PM EST
Finance Minister Jim Flaherty will introduce legislation in Tuesday’s federal budget aimed at addressing the price gap between goods sold to Canadians and Americans.
Sources tell CTV News that the measure will include giving the competition bureau the power to stop the price gouging.
Many multinational companies charge different prices in Canada and the United States, and Canadian shoppers end up paying more various items. Flaherty has hinted in the past that the government would try to crack down on companies taking advantage of the price gap.
The 2014 budget is also likely to cut tariffs on imported products to give consumers a break.
On Sunday, Flaherty told CTV’s Question Period that the budget will include billions to repair crumbling bridges and roads.
“There will be money for infrastructure and, very importantly, major infrastructure projects in Canada, major economic infrastructure projects,” Flaherty said. “It is all about the economy and jobs.”
And with the youth unemployment rate stuck in the double-digits, Flaherty is expected to include money in the budget to help young people get training, internships and jobs.
Flaherty has said that the government will be able to balance the budget by 2015, but deputy Liberal leader Ralph Goodale urged the Conservatives to abandon what he calls their obsession with austerity.
Goodale, a former finance minister, said households are carrying record levels of debt and the country is running a chronic trade deficit.
Goodale also said he’s skeptical of the promise of a balanced budget.
With a report from CTV’s Ottawa Bureau Chief Robert Fife and files from The Canadian Press