He said Canadians would save about $220 per household each year if the transaction fees were shaved to 1%, and retailers would save about $3-billion. "If product costs in Canada could be lowered, I think they would be lowered by retailers ... We can't afford to be selling TVs above Wal-Mart or Best Buy; we can't afford to be selling Levi jeans above The Bay or anyone else. The consumer would benefit from lower prices, and hopefully spend more in Canada and keep the economy going." As for the critical fourth-quarter holiday period, he said consumers appear to be more optimistic than they did at this time last year, but cited a recent study which said they were likely to spend the same amount on holiday gifts this year as they did last year. Full Article at Financial Post