Banks begin to cut prime rate after BoC move

But financial institutions were slow to respond to central bank’s lead, experts say ALEXANDRA POSADZKI THE CANADIAN PRESS TORONTO — Canada’s biggest banks have started passing on some — but not all — of the Bank of Canada’s recent rate cut, lower­ing the interest charged to bor­rowers with loans and mortgages tied to the prime rate. Royal Bank was the first to cut its prime rate when it announced it would drop to 2.85 per cent from three per cent, effective Wednesday. The move was quickly matched by the Bank of Montreal, CIBC and TD Bank. The Bank of Canada…

Another Bayers Lake fiasco

BUSINESS COLUMNIST ROGER TAYLOR r taylor@herald.ca @CH_RogerTaylor  Halifax’s $16-million Washmill Lake underpass debacle is another example of how city hall misman­aged the development of Bayers Lake Business Park. For those who don’t remember, prior to amalgamation, Halifax developed Bayers Lake Industrial Park in an attempt to compete with the highly successful Burn­side Park in Dartmouth. However, the Halifax industrial park never attracted the same kind of business Burnside achieved. In a desperate move, the Halifax city council of the day was convinced to give Bayers Lake a radical makeover. Council was shown that by building an underpass beneath Highway 102…

HRM tackles growing pains

But experts mixed on longtime effect of divisions among urban, rural interests BRETT BUNDALE HALIFAX CITY HALL bbundale@herald.ca @bbundale It has been almost 19 years since four municipalities came together to form a union. Begrudged by some and lauded by others, Halifax Regional Muni­cipality rolled Halifax, Dart­mouth, Bedford, and Halifax County into one. There have been growing pains over the years — and given that the amalgamated municipality is still only in its teen years, perhaps the occasional problem is to be expected. But a rift between urban, sub­urban and rural councillors seems to be a persistent issue at Halifax…

Taxing it to the limit

Quinpool Road businesses say rapid increases in assessments are unsustainable PROVINCIAL REPORTER MICHAEL GORMAN mgor man@herald.ca @MichaelTGor man Richard MacKenzie’s parking lot is less a paved paradise than it is a ratepayers’ hell. The Quinpool Road property owner was one of about 20 people from that commercial district who attended a meeting Monday with staff from Property Valuation Services Corp. to voice concerns about assessments that continue to climb, despite a market many operators call sluggish. MacKenzie, who pays more than $30,000 in property taxes, is particularly galled about the way the assessment has climbed for the tiny parking lot…