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Just a few days after delivering last year’s budget, Alberta Finance Minister Travis Toews declared “it felt like Rome was burning” as he rolled out the new financial plan.
Twelve months later, the blaze still isn’t out from an unprecedented pandemic and recession.
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Another budget is coming Thursday and more firefighting water in the form of additional spending will be needed, pushing Alberta’s debt levels higher.
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Alberta Finance Minister Travis Toews says the goal in 2021 is to get vaccines out and put the COVID-19 pandemic in the rear-view mirror, then work to fix a battered and beleaguered economy.
But with a $21-billion deficit and Alberta’s wellspring oil and gas economy still in flux, there s a red-inked elephant in the room: Where’s the money going to come from?
“We will not cut our way out of a $21-billion deficit,” Toews said in a year-end interview with The Canadian Press.
“We have to get the economy growing again. And economic recovery will very quickly become job No. 1 as we start to get past the pandemic.”