Submitted on March 30, 2012 - 2:55pm
Date and Time:Apr 19 2012 - 6:30pm
Location:Mount Pleasant Community Centre, #1 Kingsway Multipurpose Room 3 , vancouver
Join us to vote in our new president(s) for the 2012-2013 year, chat about opportunities to get involved and upcoming events ... and RETIRE YOUR PENNIES!
When the government announced its 2012-2013 budget, EWB staff were gathered in the boardroom around a projector and a flurry of computers at National Office analyzing what impact potential cuts would have on Canada's foreign aid. Disheartened by what we all saw; however, when diving down into the budget documents, they noticed a particularly important line from the Honourable Jim M. Flaherty:
The Government will introduce legislation to modernize Canada’s currency set by eliminating the penny from Canada’s coinage system. The Government will no longer distribute pennies as of Fall 2012.However, the penny will retain its value indefinitely and can continue to be used in payments. The penny has weak purchasing power and costs the Government 1.6 cents to produce. Other countries, such as New Zealand, Australia, the Netherlands, Norway, Finland and Sweden, have made smooth transitions to a penny-free economy. The Government expects that businesses will apply rounding for cash transactions in a fair and transparent manner. Canadians will be able to redeem pennies for full value. The Government will work in collaboration with institutions and charitable organizations that may wish to organize fundraising activities around the elimination of the penny.
Put your pennies to good use by donating them to support EWB's programs today.
See original: EWB Annual General Meeting