Premier Stelmach says Alberta’s revenues will take two or three years to recover

Premier Ed Stelmach says it could take two or three years for Alberta’s depleted revenues to recover from the recession.

EDMONTON — Premier Ed Stelmach says it could take two or three years for Alberta’s depleted revenues to recover from the recession.

Stelmach says despite speculation of a record $7 billion budget deficit this year, his government won’t raise taxes and is reluctant to cut jobs.

The premier says Alberta will use $17 billion in savings to cover deficits over the next few years.

But Stelmach also says Albertans need to prepare themselves for belt-tightening measures as the government grapples with the growing deficit, although he refuses to offer specifics.

The premier says even though revenues are down sharply, Alberta will continue to pour billions of dollars into building projects, including schools and hospitals.

He says despite the economic slowdown, Alberta’s population is expected to grow by 50,000 in the coming year and the province needs to keep pace.

Just Posted

Fire investigators comb through industrial fire wreckage looking for answers

Industrial building in north Red Deer was completely gutted in Wednesday morning fire

Time for a central Albertan in cabinet, says chamber of commerce

Central Alberta had no cabinet ministers in last government

Trump Russia probe finally delivers some answers

WASHINGTON — After nearly two years of waiting, America is getting some… Continue reading

Trans Mountain Pipeline deadline extended

OTTAWA — The federal government is delaying a decision on the Trans… Continue reading

WATCH video of Innisfail resident creating the world’s biggest caricature

Watch as Innisfail resident Dean Foster creates the world’s biggest caricature of… Continue reading

CRA’s automatic benefit registrations give retirees reason to file on time

TORONTO — This is the time of year when procrastinators begin to… Continue reading

Study: Genetic test predicts middle-aged obesity risk

NEW YORK — Can a genetic test identify newborns at risk of… Continue reading

Downtown Red Deer Co-op Plaza Food store closing

Central Alberta Co-op is closing its downtown Red Deer Plaza food store… Continue reading

Earth, meet Polo: Ralph Lauren unveils plastic bottle shirt

NEW YORK — Earth, meet Polo. Polo Ralph Lauren on Thursday launched… Continue reading

Statistics Canada reports retail sales rose 0.8 per cent in February

OTTAWA — Statistics Canada says retail sales rose 0.8 per cent in… Continue reading

Inflation rises 1.9% on higher prices for fresh vegetables, mortgage costs

OTTAWA — Canada’s annual inflation was up last month as price pressures… Continue reading

Netflix adds 9.6M subscribers in 1Q as competition heats up

SAN FRANCISCO — Netflix kicked off the year with the biggest subscriber… Continue reading

Liberals find anti-Trudeau sentiment on campaign trail in Prince Edward Island

OTTAWA — When voters in Prince Edward Island go to the polls… Continue reading

Most Read