The Canadian dollar hit its highest intraday level in almost three decades Friday, and many strategists believe the currency has further to go.**********
RELATED: Yikers... Steffi gets another brainwave
Stephane Dion, the Liberal leader, has made it clear he would not proceed with the second percentage point cut to the GST promised by the Conservatives in the last election.Now, I'm no economist, but on a purely political level, this has to rank up there... with starting up a Zeppelin company to compete with Westjet.
But Mr. McCallum's comments are the first to hint at reversing the cut made by the Tory government last year.
John Williamson, national director of the Canadian Taxpayers' Federation, said he would welcome income tax cuts. But he said the idea of linking those cuts to an increase in the GST would be "electoral suicide."
"The Conservatives would have a field day. The Liberal caucus has got to give its head a shake if it is contemplating increasing the most hated tax in Canada," he said.
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