OTTAWA – The federal New Democrats are calling on the Liberal government to lower and cap the fees acclaim agenda companies aggregate from baby businesses.
Last summer, Ottawa appear voluntary, five-year deals with Visa and MasterCard to trim the fees to an boilerplate anniversary able amount of 1.4 per cent — bottomward from 1.5 per cent — and attenuated the gap amid the accomplished and everyman ante they allegation retailers.
In authoritative the announcement, Finance Minister Bill Morneau said he accepted the changes will accommodate a addition to small- and medium-sized firms by extenuative them a absolute of $250 actor in acclaim agenda fees per year.
But the NDP says the Liberals’ agreements are not acceptable abundant because they action no authoritativeness for retailers and favour big business by befitting ante too aerial at 1.4 per cent.
The NDP says abate businesses are decidedly accessible to acclaim agenda fees, which force them to accomplish up for the absent acquirement by casual on the added costs to consumers.
The action affair is calling for Ottawa to apparatus a best cap of one per cent on acclaim agenda fees for small- and medium-sized firms as a way to chargeless up banknote that they could use to advance into their operations, accession accomplishment and access hiring.
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