[heep223]

Ottawa's answer to the energy collapse and subsequent historic depression in AB and SK: extend EI benefits and cross fingers. Lol!

The plunge in oil prices and reduced demand for Canadian commodities as a result of the global economic slowdown has left tens of thousands of workers without jobs. To help these displaced workers, Ottawa is extending employment insurance benefits in Alberta, Saskatchewan, northern Ontario and Newfoundland and Labrador.

Trudeau’s first budget aims to spur growth with $29-billion deficit

Finance Minister Bill Morneau is promising his first budget will generate 100,000 jobs and stimulate economic growth with billions in new spending on infrastructure and targeted help for families, students, low-income seniors, the unemployed and indigenous people.
Stimulus spending on infrastructure and family support is projected to boost the country’s economic growth by 1 per cent, but it comes at a cost to the bottom line and a broken campaign pledge to balance the books before the next election.

The deficit will hit $29.4-billion in 2016-17 and the Liberals are no longer promising to balance the books by the end of their first mandate – instead suggesting it could take at least five years.

The projected deficit for 2019-20, when Canadians return to the polls, is now $17.7-billion, though the government says that could be smaller if the economy and oil prices rebound.

The five-year budget plan adds more than $100-billion to the federal debt, but when measured as a percentage of the economy, the size of the debt is projected to decline slightly.

http://www.theglobeandmail.com/news/...click=sf_globe