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The Federal government hands out the goodies in 2016 budget but forgets energy sector

The Federal government hands out the goodies in 2016 budget but forgets energy sector

The Liberals maintained several of their election promises and unveiled a C$29.4B budget this week.

Big ticket items include:

  • public transit
  • water treatment
  • renewable energy
  • social housing
  • increases in child benefit credits, indigenous groups and seniors
  • arts and culture (including $675 million for the CBC)
  • electric car subsidies
  • veteran affairs and
  • the coast guard.

The government is establishing a new $2 billion fund for transition to a Low Carbon Economy.

Hard hit regions such as Alberta will now get an additional 5 weeks of EI coverage, potentially increasing to a maximum of 70 weeks. Alberta gets $400 million for infrastructure. The government is assuming $40 oil and makes no mention of support for the energy sector.

The Liberals plan to run a total deficit of $115B over the next 4 years, bringing Canada's federal debt to GDP to 32% from 30%, excluding provincial debt.

IEA warning oil security at risk due to severe spending cuts in the energy patch

IEA warning oil security at risk due to severe spending cuts in the energy patch

AER concludes excessive steaming to blame for Primrose bitumen release

AER concludes excessive steaming to blame for Primrose bitumen release

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