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Canada to cut credit card transaction fees for small businesses

Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks about changes to capital gains tax legislation, in Ottawa

Oct 1 (Reuters) - Canada will reduce credit card transaction fees for small businesses by up to 27% starting on Oct 19, Finance Minister Chrystia Freeland said in a statement on Tuesday.

The cut could save eligible businesses over C$1 billion ($740,000) over five years, she said.

($1 = $1.35 Canadian)

(Reporting by Nivedita Balu, editing by David Ljunggren)