Alberta economic growth slashed to under 1% for 2019

Forecasted to grow by only 0.5 per cent this year compared with 2.1 per cent in 2018

Alberta economic growth slashed to under 1% for 2019Alberta’s 2019 growth forecast has been slashed to under one per cent with a modest rebound likely on tap for 2020, says a Provincial Economic Forecast released Thursday by TD Economics. “Mandated oil production curtailment so far this year has yielded stronger bitumen prices. However, the blow to overall confidence from last year’s price slide…

Program spending key to balancing Alberta budget: Fraser Institute

Report says tax reform to regain the province’s former advantage across North America should be a priority

Program spending key to balancing Alberta budget: Fraser InstituteProgram spending cuts of 10.9 per cent over the next three years would balance the Alberta budget by 2021-2022, says a report released on Thursday by the Fraser Institute, a public policy think-tank. The cuts would be significant but the organization said it is substantially smaller than the reductions implemented by the government of Ralph…

Alberta deficit stands at $6.9B, $1.9B lower than forecasted

But the president of the Calgary Chamber expressed concern about a lack of broad-based government strategies to spur business

Alberta deficit stands at $6.9B, $1.9B lower than forecastedThe Alberta government said on Wednesday that the province's deficit remains well below projections with the third-quarter forecast coming in at $6.9 billion, a drop of $1.9 billion below the 2018 budget forecast. “The deficit is down and the path to balance is on track. Alberta has the strongest balance sheet in the country and…

Alberta government increasing rail capacity to transport oil

Investing $3.7 billion in increased rail capacity to generate about $5.9 billion over the next three years

Alberta government increasing rail capacity to transport oilThe Alberta government has reached a deal with Canadian Pacific Railway and Canadian National Railway that will see an estimated 4,400 rail cars move up to 120,000 barrels of oil per day by 2020. “Each and every Albertan owns our energy resources and deserves to get top dollar for them. We are taking decisive actions…

Alberta investing $100 million to attract AI high-tech companies

Program intended to create more than 140 new companies, give Albertans new skills

Alberta investing $100 million to attract AI high-tech companiesThe Alberta government says it is investing $100 million to attract more artificial intelligence-based high-tech companies to invest in the province. “Innovation is a critical tool for competitiveness in nearly every sector of the economy, including energy. By investing in technology and the talent that powers it, we are ensuring Alberta continues to be a…

Restaurants Canada fed up with government policies

The restaurant industry is mounting a new campaign to raise awareness about the tough challenges it faces in Alberta

Restaurants Canada fed up with government policiesThe restaurant industry is mounting a new campaign to raise awareness about the tough challenges it faces in Alberta. “Since 2015, restaurants across Alberta have been battling a perfect storm of operational cost increases from a variety of policy changes, against the backdrop of a weakened economy,” said Mark von Schellwitz, Restaurants Canada vice-president for…

Why some of us prefer Conservative parties over their leaders

Jason Kenney and Doug Ford don't have great approval ratings. But voters seem to favour their parties in Alberta and Ontario

Why some of us prefer Conservative parties over their leadersAn intriguing phenomenon is beginning to occur in our nation’s politics. Some Canadians seemed to be pleased with the policies of Conservative parties and are willing to vote for them – in spite of some apprehension toward certain party leaders. Here are two recent examples. A Mainstreet Research poll released on Jan. 22 revealed that…

Calgary Chamber calling on cut to corporate tax rate

Once known as a province where risks were often rewarded, many investors now see Alberta as too risky

Calgary Chamber calling on cut to corporate tax rateThe Calgary Chamber released its election platform recommendations on Thursday calling for a cut in the corporate tax rate and a reduction of layered costs and regulations on business. “Successive governments have made numerous decisions that have severely impacted business confidence, investment and competitiveness. Once known as a province where risks were often rewarded, many…

$2 billion oil upgrading plant planned for Strathcona County

Province supporting the project through a $440-million loan guarantee

$2 billion oil upgrading plant planned for Strathcona CountyThe Alberta government is supporting a proposed $2-billion oil upgrading facility project in the Alberta Industrial Heartland just east of Edmonton. Calgary-based Value Creation Inc. and its wholly-owned subsidiary Value Chain Solutions Inc. said the facility would create more than 2,000 construction jobs and another 200 full-time positions once it is in operation. The province…