- Joined
- Mar 24, 2009
- Messages
- 16,743
CALGARY — For the first time in nearly two decades, the Alberta government expects it will qualify for federal financial aid from a program designed to help provinces cope with steep, sudden drops in revenue.
Alberta Finance Minister Iris Evans said officials in her department have already given their counterparts in Ottawa a heads-up that Alberta may come calling for fiscal stabilization dollars.
Unless the economy makes a dramatic turnaround shortly, the province anticipates it will qualify for $220 million in one-time funding after the 2009-10 year ends in March. The Alberta government may also make a case for the fiscal year that just passed, after revenue figures are finalized next month.
Alberta`s need for federal stabilization cash is another sign of its stunning reversal of fortune — plummeting from an unprecedented economic boom into a punishing recession.
At a meeting Monday in Quebec of provincial finance ministers and federal Finance Minister Jim Flaherty, Evans will make another pitch for an additional $700 million in annual federal health transfers dollars.
Alberta contends it`s being shortchanged, receiving about $200 less per resident than most other provinces and territories. Ontario was given a beneficial bump to its health transfer funding in January`s federal budget.
"We believe that Ontario and Alberta should, if one gets that kind of concession, Alberta has equal claim because of the issues around taxation, tax points," Evans said.
The government of Premier Ed Stelmach views its fight for extra health dollars and its likely qualification for stabilization cash, potentially totalling $920 million, as crucial at a time when it`s eyeing significant cost-cutting.
The province pledged to find an extra $215 million to trim from its recently delivered $36.4 billion budget and warned another $2 billion in savings or boosted revenues would be needed if the economy doesn`t rebound by early next year.
"There will no doubt have to be some reductions in expenditure," Evans said after delivering a speech in Calgary recently.
Roger Gibbins of the Canada West Foundation believes it`s important Alberta lobby Ottawa on the health funding issue, but he`s not optimistic the province will win the argument.
Read the full article here.
Alberta Finance Minister Iris Evans said officials in her department have already given their counterparts in Ottawa a heads-up that Alberta may come calling for fiscal stabilization dollars.
Unless the economy makes a dramatic turnaround shortly, the province anticipates it will qualify for $220 million in one-time funding after the 2009-10 year ends in March. The Alberta government may also make a case for the fiscal year that just passed, after revenue figures are finalized next month.
Alberta`s need for federal stabilization cash is another sign of its stunning reversal of fortune — plummeting from an unprecedented economic boom into a punishing recession.
At a meeting Monday in Quebec of provincial finance ministers and federal Finance Minister Jim Flaherty, Evans will make another pitch for an additional $700 million in annual federal health transfers dollars.
Alberta contends it`s being shortchanged, receiving about $200 less per resident than most other provinces and territories. Ontario was given a beneficial bump to its health transfer funding in January`s federal budget.
"We believe that Ontario and Alberta should, if one gets that kind of concession, Alberta has equal claim because of the issues around taxation, tax points," Evans said.
The government of Premier Ed Stelmach views its fight for extra health dollars and its likely qualification for stabilization cash, potentially totalling $920 million, as crucial at a time when it`s eyeing significant cost-cutting.
The province pledged to find an extra $215 million to trim from its recently delivered $36.4 billion budget and warned another $2 billion in savings or boosted revenues would be needed if the economy doesn`t rebound by early next year.
"There will no doubt have to be some reductions in expenditure," Evans said after delivering a speech in Calgary recently.
Roger Gibbins of the Canada West Foundation believes it`s important Alberta lobby Ottawa on the health funding issue, but he`s not optimistic the province will win the argument.
Read the full article here.