Finance Minister Jim Flaherty repeated his appeal on Monday for retailers to cut prices in response to the strong Canadian dollar.
"The issue ... of the increased value of the Canadian dollar vis-a-vis the U.S. dollar and the resulting pricing policies in Canada is very important ... to Canadian consumers. It's why I've raised the issue on behalf of the government publicly," he told Parliament a day before he was to hold talks in Ottawa with retail representatives.
"I've spoken to many of the retailers directly in the course of the last past month. We're encouraging the retailers to reflect as quickly as possible the increased purchasing value of the Canadian dollar and, quite frankly for the sake of Canadian retailers as well, so they'll have the business volumes they'd like to have," he said, adding that he did not believe in price controls. Continued...