Ottawa, ON, Mar 30, 2012 — Canada's Finance minister Jim Flaherty unveiled the federal government's budget for 2012 in Ottawa yesterday afternoon. Although overall cuts were less than expected, the government announced plans to reduce spending by $5.2 billion per year over the next three years, and eliminate just over nineteen thousand public sector jobs. One-third of those job reductions are expected to occur in the Ottawa-Gatineau area.

The proposed budget also includes phased changes in eligibility for old age benefits, higher tax exemptions for shopping outside of Canada and elimination of the humble penny. Lucy Martin has more.  Go to full article