03/05/2015 02:36 EST | Updated 05/06/2015 05:59 EDT

Alberta Budget To Be Unveiled March 26

Fountain, AB Legislature, Edmonton, AB, Canada
Michael Wheatley via Getty Images
Fountain, AB Legislature, Edmonton, AB, Canada
EDMONTON - The Alberta government says it will bring down its game-changing budget and 10-year financial plan on March 26.

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.

Prentice has said plunging oil prices have left a projected $7-billion hole in next year's budget.

He and Finance Minister Robin Campbell have said they are looking at hikes to income taxes and user fees to cover it off.

However they have ruled out increases to corporate taxes or oil royalties, saying that would be self-defeating in a struggling economy.

Prentice has been under fire this week for telling Albertans that if they want to know who is responsible for the financial mess, they should "look in the mirror."


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