Canadian Manufacturing

Alberta expecting to deliver positive news regarding the province’s budget

Alberta's deficit projection has since been halved to less than $8 billion.

November 30, 2021  The Canadian Press

Alberta’s finance minister is expected to deliver some good news on the province’s budget on Nov. 30 when he releases the second-quarter update.

Travis Toews says the economic outlook is improving across the board and not just in Alberta’s mainstay oil and gas sector.

A surge in oil and gas prices has helped Alberta’s bottom line since Toews predicted an $18-billion deficit when he introduced the budget back in February.

That deficit projection has since been halved to less than $8 billion.

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Opposition NDP finance critic Shannon Phillips says the higher energy prices will help.

But Phillips says Toews still needs to present a plan to help families dealing with the double whammy of a 4.7 per cent rise in inflation on top of higher user fees, bills and insurances rates imposed under Premier Jason Kenney’s United Conservatives.