GST holiday break: Is it good for Canada’s economy? [MoneySense]
ING Group, N.V. (ING)
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ing.com/investor-relations.htm
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Source: MoneySense
“It’s important to point out just how meaty this is. It’s quite a substantial move and it’s important to note that the much bigger impact here will not be on the high-profile GST holiday. It’s much more on the (rebate cheques),” he said.Get free MoneySense financial tips, news & advice in your inbox.subscribe nowOntario rebates + GST holiday: tax savings or inflation booster?When combined with provincial government rebates promised in Ontario, Porter said the money is likely to offer a significant boost to incomes and consumer spending at the start of the new year. But he noted that the measures come at a time when inflation has cooled and policymakers are looking to boost the economy rather than tamp down price growth.“This is now actually working in the same direction as the Bank of Canada has started to shift to,” he said. Porter said he still expects the central bank to continue rate cuts. “They might take a somewhat more cautious stance,” he said.The Bank of Canada (BoC) lowered
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