High deficits and low oil prices: Alberta's latest budget ac

High deficits and low oil prices: Alberta's latest budget accepts what the last one did not


 
CALGARY --
A year ago, the UCP government was accused of being overly optimistic – presenting a budget brimming with rosy projections of economic recovery and extremely ambitious hopes for the rising price of oil.
Nobody will point that finger this time.
Alberta's 2021-22 fiscal framework is cautious, even pessimistic at times, acknowledging what the government has been accused of ignoring in the past – that times are tough, and oil alone won't save us.
"Here's the reality," said Alberta Finance Minister Travis Toews. "Energy prices come with volatility. This year ... our economic assumptions, which are ultimately resulting in our revenue projections are very conservative. There is an awful lot of uncertainty yet and in an environment such as this, I think it important to be prudent and conservative in our projections."

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