I know we have a couple other threads that are related but I thought a new thread about the 2015 outlook might be useful
http://calgaryherald.com/news/politi...cial-situation
Quote:
Premier Jim Prentice warned Friday that spending cuts are coming and tax hikes are under consideration to deal with what he said is the Alberta government’s worst fiscal situation in generations.
In a year-end interview at McDougall Centre, Prentice also said that other capital projects — including new schools promised during the fall byelection campaign — could be deferred along with a planned cancer centre for Calgary that has already been put on hold.
The premier said Alberta is facing an “unprecedented fiscal hole” of $6.25 billion in the upcoming budget year, with a $5-billion shortfall expected the year after — due to falling oil prices.
It adds up to a government financial position worse than during the worldwide recession of 2008-09 or the doldrums of the early-1990s that led to major cuts under Ralph Klein.
“You have to go back a generation — maybe several — to find a time when Alberta has faced some of the challenges that we face now,” said Prentice, who has presided over a whirlwind of activity since becoming premier, including this week’s floor crossing of a majority of Wildrose MLAs into his Progressive Conservative government.
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