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Even if oil rebounds, the province could still face a structural deficit in the range of $4 billion to $5 billion in a few years
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"We have to continue to build, and we are building."
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Many buyers are taking a wait and see attitude when it comes to their real estate purchases in Alberta with the last market failure fresh in their minds. Based on historical data and the opinions of the top analysts, it might be much less painful than many anticipate.
Premier Jim Prentice has promised the budget will fundamentally restructure how the province spends and saves money to insulate it from future swings in oil prices.
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Premier Jim Prentice says all Albertans are responsible for getting the province into a financial mess and everyone has to help clean it up.
While not confirming he will call a spring election, Prentice says any leader who wants to implement the changes needs a mandate.
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It's no secret the steep decline in oil prices are having a significant impact on Canada's energy industry. But the drop in the commodity price is affecting those outside the sector, who re...
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He says the wage rollback will save about $104,000.
In the latest quarter, resource revenue was below budget by $503 million.
This year's Alberta budget has yo-yoed from a projected surplus to a deficit and back to a surplus.
There was a good reason why Klein and his finance minister Jim Dinning acted when they did. Interest payments on provincial debt were consuming more and more tax dollars, diverting money away from the very programs Klein's critics claimed to value.
Prentice says nothing has been decided on yet.
NDP Leader Rachel Notley says it's unfair for Prentice to freeze corporate taxes and oil royalties.
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