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Federal government offers Alberta $251 million in fiscal stabilization funds

Federal government offers Alberta $251 million in fiscal stabilization funds

Federal Finance Minister Bill Morneau has approved Alberta's request for fiscal stabilization funds. The fund applies to provinces that experience more than a 5% drop in non-resource revenue.

Morneau said the $251 million payment demonstrates the government's commitment to addressing the challenges facing middle class families and those struggling with the economic downturn. The cash injection amounts to $60 per Albertan.

This is the first time the federal government has handed out a stabilization payment in 20 years. Alberta has paid over $200 billion in equalization payments to Ottawa over the past 5 years. The federal government has denied requests from Alberta and Saskatchewan to re-examine the equalization formula.

Alberta's finance minister announces a whopping $10.5 billion deficit for 2016/17

Alberta's finance minister announces a whopping $10.5 billion deficit for 2016/17

International Energy Agency sees oil markets "realigning" in 2017

International Energy Agency sees oil markets "realigning" in 2017

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