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Ottawa moves to open credit flows

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Budget hits and misses

CP Video - Tuesday, January 27, 2009 at 5:06 EST

After a torrent of leaks there were still some surprises in the 2009 federal budget. Canadian Press reporters Rob Russo and Bruce Cheadle look at the hits and misses in the financial plan

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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