RBC reported last week that Alberta’s GDP dropped by 8.2% last year, the worst performance the province has ever seen.
Canada’s increased by only 19%.
Since 2014, Alberta’s oil & gas industry has increased annual production to an additional 4.4 million cubic metres. But they did it with 41,000 fewer workers.
The federal Conservatives have released their preliminary campaign platform. Here’s what I think of it.
More debt. Fewer jobs. Less tax revenue.
Canadian Federation of Independent Businesses gave the UCP government an A grade for cutting regulations for businesses.
The U of C economist is blaming government regulation for Canada’s stagnating economy.
Minimum wage increases between 2015 and 2019 didn’t raise unemployment among youth. Nor did they going back to 1976.
Income tax revenues are $4.2B lower than planned this year. Oil & gas revenue is $3.4B lower. Federal transfer payments are $2.2B higher.
Sometimes there are benefits that can’t be bought. And not all resources must generate a profit.