: News Article:
New Arena deal agreed to by city and Katz group:mod warning #616
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05-08-2013, 07:02 AM
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Join Date: Apr 2005
Location: Hockey Hell
Originally Posted by
Wow, I don't keep up with Alberta's economy/politics much but I must admit that this surprised me. I would've assumed that with all of the Oil revenue that Alberta would at least break even. Are there talks of a recession setting in or talks of massive tax increases/deep cuts to the budget?
Massive cuts to the budget. Some talk of a PST. Mostly accusations from opposition party of over spending.
But a few things, the low benchmark price of oil, bad PR around oilsands, several nations not wanting our product, and the pipeline controversies are all resulting in a massive economic headache.
In the midst of revenues billions of dollars lower than forecast the province is being asked to fund a major arena with an opposition party in waiting yapping at its tails at every turn.
Bad times to be a provincial govt.
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