Beyond The Commons

 Beyond The Commons

Aaron Wherry covers all the goings-on in and around Parliament Hill. Follow Aaron on Twitter: @aaronwherry

Categories: Beyond The Commons, Capital Read

Cast off these copper irons

by Aaron Wherry on Friday, December 17, 2010 11:39am - 21 Comments

Mike Moffatt explains why we’re better off without the penny and why eliminating it won’t cause the nation to descend into fractional chaos.

Any change naturally comes with costs and benefits. The only significant cost is to retailers who will have to adapt their point-of-sale systems, a small change for a $130-million-a-year benefit. Prices will not rise and charities will not suffer. Let’s follow the lead of so many other countries around the world and eliminate a coin that no longer serves a useful purpose.

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  • MostlyCivil

    "Prices will not rise"

    While I favour dumping the one cent coin, I have to say that the above statement is wishful thinking.

    Why? because I'm still waiting for that GST cut a few years back to lower the price of everything by 1 per cent.

    • Mike T.

      And for merchants to keep their prices the same after the implementation of the GST, because the savings of eliminating the MST would be passed on to consumers! HAHAHAHAHAHHAHAHAHAHAHAHAAA!!!!

      • tobyornotoby

        Easy Mike. There's a fine line between hilarity and a trip to the hotel that won't let you leave. LOL

        • guest

          i think mike crossed that line some time ago.

  • Crit_Reasoning

    "Copper irons" is an apt way to describe pennies, since they are 94% steel with a thin copper plating.

    • http://dougsamu.wordpress.com dougrogers

      My, you do have thumbs up fans, don't you?

      • Crit_Reasoning

        Aren't you one of them?

        • http://dougsamu.wordpress.com dougrogers

          When you say something worth thumbing.

          • Crit_Reasoning

            You didn't like my observation that pennies are mostly iron, which would make the title of this blog post a double entendre?

          • http://dougsamu.wordpress.com dougrogers

            Never said I didn't like it. I find it amusing though, that the only obvious meta content in the post was explaining the literary allusion – that it earned a number of thumbs up for explaining poetry is amusing.

  • Emily

    Meanwhile the prime minister’s office told QMI the status quo will remain when it comes to Canadian coinage.

    “We have no plans to eliminate the penny,” said Dimitri Soudas, the prime minister’s chief spokesman.
    http://www.torontosun.com/news/canada/2010/12/14/…

  • A_logician

    New CPC slogan: don't change our change.

    • Emily

      Shorter version: 'Don't change'. LOL

    • Fido

      Obviously, I misunderstood their statement "We welcome change."

  • madeyoulook

    Take heart — at least the ha'penny debate is settled.

  • BGLong

    Whatever would we offer for thoughts. Heaven forbid we should have to
    offer what they are usually worth.

    • http://dougsamu.wordpress.com dougrogers

      Thumbs up and thumbs down don't cost anything at all.

      • BGLong

        And worth every …. er …

        • brooster2

          A nickel for your thoughts.

          • BGLong

            As long as you don't ask for change when I'm finished …

        • Hedges

          …fifth of a nickel, as it were.

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