Posted: Feb 26, 2021 4:00 AM ET | Last Updated: February 26
Alberta budget offers few cuts, more debt
The National1 month ago
2:01
The Alberta government s latest budget is far from the fiscal reckoning Premier Jason Kenney had long promised. Instead, there are very few cuts and lots of debt a situation the province blames on the pandemic and shrinking oil revenue.2:01
Calgary Mayor Nenshi says caretaker budget fails to seize opportunity
Alberta s budget did not feature deep cuts to balance the books, instead pushing off that accounting to a post-pandemic province. But the numbers will still constitute important realities in Calgary in the coming year.
Social Sharing
CBC News ·
Posted: Feb 25, 2021 5:02 PM MT | Last Updated: February 26
Calgary Mayor Naheed Nenshi said the Alberta government s 2021 budget failed to seize on opportunities presented by the ongoing pandemic.(Ed Middleton/CBC)
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
JASON FRANSON/The Canadian Press
Alberta’s 2021-22 budget is a grim news document, with forecasts of a rapidly increasing provincial debt and more tightening of public-sector spending. Some difficult decisions have been kicked down the road, including any real discussion of how to stabilize the province’s famously volatile revenue streams. The glimmers of optimism in the provincial budget come mainly from the discussion of years further out, when Alberta has theoretically emerged from the current crisis mode.
Article content
Modest oil prices, a guarded economic recovery and plenty of caveats.
On Thursday, amid sky-high uncertainty about the fragile state of Alberta’s economic recovery and the COVID-19 pandemic, Finance Minister Travis Toews released a carefully measured budget plan for the new year.
We apologize, but this video has failed to load.
Try refreshing your browser, or Varcoe: A guarded budget made for an Etch A Sketch Back to video
It contained a slightly larger deficit than some economists were expecting, coming in at $18.2 billion. He also projected a timid rebound in oil prices, even as crude was trading fully US$17-a-barrel above his own projections for the new year.
The Daily Chase: Taperless tantrum eases; Alberta keeps KXL hopes alive bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.