An Edmonton bookstore is selling books at the American list price, saying it's the key to survival since the loonie hit par with the U.S. dollar.

The owners of Audrey's Books, which has been in business for more than three decades, say there's no reason why Canadian readers should continue to pay a higher price for books.

Audreys Books is now selling books at the U.S. list price.
(CBC)

"We are biting the bullet and we are going to sell these American books at American prices," co-owner Sharon Budnarchuk said. "We're hoping that this will bring a great deal of business to us. So with more business, we will be able to survive."

Budnarchuk said bookstores like Audrey's have been fighting with distributors to reduce prices, but that hasn't been happening fast enough, resulting in complaints from customers.

The Canadian dollar hit a 47-year high Monday, topping out at a $1.05 US.

The bookstore's other owner, Steve Budnarchuk, travelled to Ottawa Tuesday to urge the federal finance minister to remove the GST from book sales.

The Canadian Booksellers Association says cutting the tax on books could help improve literacy in Canada.

Finance Minister Jim Flaherty tabled a bill Tuesday to cut the GST by another percentage point, making the rate five per cent effective Jan. 1, 2008.

Meanwhile, online shoppers looking to cash in south of the border are overwhelming Canada Post.

Officials say international mail-sorting centres run by Canada Post and the federal border agency in Vancouver, Toronto and Montreal are being backlogged by packages from the U.S. ordered online by Canadians.

With files from the Canadian Press