National

Alberta's Finance Minister Says Low Oil May Delay Programs, Initiatives

Darpan News Desk The Canadian Press, 21 Dec, 2015 11:22 AM

EDMONTON — Alberta Finance Minister Joe Ceci says millions of dollars in initiatives promised by the NDP government may be delayed due to low oil prices.

Ceci said in a year-end interview that he may hit the brakes on some or all of a dozen programs set to begin in the 2016-17 fiscal year.

They include new child-care benefits, cuts in school fees paid by parents, a student summer hiring program and loans for environmental retrofits.

Ceci said that with the price of oil below US$40 a barrel, he is comfortable recommending to cabinet that some or all of the programs be delayed or receive less funding.

The finance minister and his staff are crunching numbers for the next budget which is to be presented in February or March.

This year's current budget forecasts a $6.1-billion deficit.

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