Alberta is accelerating a planned corporate tax cut and spending $10-billion on roads and other infrastructure under an economic recovery plan announced on Monday ...
Premier Jason Kenny says the measures are needed to help Alberta rebound from the double whammy of the COVID-19 pandemic and a global oil price war.
Kenney says the investments on roads, health care, schools and in other areas will bring expected spinoff benefits to other businesses and the service sector.
He says while there’s no denying the major cash infusion will hinder the province’s ability to balance the books, Alberta’s economy needs immediate assistance.
Kenney also announced on Monday that his government is proceeding immediately with a plan to cut the corporate income tax rate to eight per cent after earlier lowering it from 12 to 10 per cent.
Meantime, Alberta's Opposition leader says infrastructure spending will help as a short term ''shock absorber'' but N-D-P Leader Rachel Notley says the corporate income tax cut won't help.
She says a tax cut didn't bring back jobs before the pandemic, and won't bring them back after.