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Ottawa moves to open credit flows

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The challenge of our time

Globe and Mail Update - Tuesday, January 27, 2009 at 11:25 EST

A laid-off retail manager, a self-employed consultant, a young mother and a small businessman reflect on the recession as Finance Minister Jim Flaherty delivers the budget

Globe and Mail Update

OTTAWA — Finance Minister Jim Flaherty is encouraging Canadian businesses to borrow and invest with budget measures meant to improve access to credit and provide modest tax breaks for capital expenditures.

In his budget released Tuesday, the Finance Minister also backed away from a controversial measure – announced two years ago – to limit the interest deductibility when companies borrow to finance a foreign affiliate.

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