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Penny: Is it time to get rid of the one-cent coin?
- May 4, 2010 12:33 PM |
- By POV
The penny has outlived its usefulness and should be scrapped, says P.E.I. Senator Catherine Callbeck.
Callbeck is on the Senate's national finance committee, which is preparing a report on the value of the penny. On cost of production alone, it represents a loss for Canadians, Callbeck told CBC News.
"The raw material in the production of the penny costs more than a penny, so that roughly the direct loss to the taxpayer every year is $25 million," said Callbeck. She said the Senate wants to hear from Canadians on the issue.
Read more.
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(This poll is not scientific. It is based on readers' votes.)
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