OTTAWA — This year's federal budget is going to cost Canadians a pretty penny.
Search the couch cushions, roll all those lucky pennies and take them to the bank, because the government has announced it will phase out the copper coins beginning this fall.
The decision, announced in Thursday's federal budget, came down to dollars and cents.
Due to inflation, "the penny's burden to the economy has grown relative to its value as a means of payment," according to budget documents.
"The penny is a currency without any currency," said Finance Minister Jim Flaherty. "Free your pennies from their prisons at home and donate them to charity."
@CDN_PENNY (external - login to view), a Twitter account created soon after the budget came down, wrote, in the voice of the scorned Canadian penny, "'Currency without any currency?' Hey Flaherty. Say it to my face, you clown!"