By Jason Fekete, Calgary Herald
Premier Ed Stelmach says Alberta’s surging economy should provide both financial relief for government but also some good job opportunities for him when he leaves office.
The outgoing Progressive Conservative leader said Thursday the rebounding economy and strong oil prices produced a “very positive” first-quarter fiscal showing for the province that will shrink the projected $3.4-billion deficit.
The government’s February provincial budget projected annualized oil prices at $89.40 for the 2011-12 fiscal year, but crude has been trading around $100 US per barrel recently. Every $1 annualized increase in oil prices translates into an extra $141 million for provincial coffers.
“The economy is coming back, beter here than anywhere else,” Stelmach told reporters in Calgary, after announcing $25 million for a new agriculture events centre on the Stampede grounds.
Stelmach said the government’s firstquarter (April to June) fiscal report will show a “very positive” financial picture for the province and lower projected deficit. He also didn’t rule out the possibility for a surplus when asked by reporters.
“Let’s not just depend on those oil prices because anything can happen,” he added.
Queried about his plans once he resigns as premier Oct. 1, Stelmach said Alberta’s eye-popping job growth means there will be “a good job opportunity for me personally.” He promised to take “a little breather” on his farm but remain MLA for his Fort Saskatchewan-Vegreville riding until the next provincial vote to avoid an unnecessary byelection.
The province’s transition allowance -which pays three months salary for every year served as MLA -means Stelmach is in line to take home nearly $1 million in severance.
The premier said he will “definitely honour” the province’s oneyear cooling-off period that prevents politicians and senior staff from lobbying government, “and then we’ll see what happens from there.” He ruled out taking a foreign diplomatic posting like former western premiers Gordon Campbell and Gary Doer.
“There will be opportunities, but (I’m) certainly going to be living back on the farm,” the premier added.
Alberta Liberal finance critic Hugh MacDonald lauded the premier for promising to remain an MLA and avoid a costly byelection.
“I tip my hat to him for doing that. I think that’s the right thing to do. He is not bailing on the constituents who, over the years, have sent him to the legislature to represent them,” MacDonald said.
Read more: http://www.calgaryherald.com/business/Surging+economy+good+Alberta+Stelmach/5106425/story.html#ixzz1SCGxzwyO
Premier Ed Stelmach says Alberta’s surging economy should provide both financial relief for government but also some good job opportunities for him when he leaves office.
The outgoing Progressive Conservative leader said Thursday the rebounding economy and strong oil prices produced a “very positive” first-quarter fiscal showing for the province that will shrink the projected $3.4-billion deficit.
The government’s February provincial budget projected annualized oil prices at $89.40 for the 2011-12 fiscal year, but crude has been trading around $100 US per barrel recently. Every $1 annualized increase in oil prices translates into an extra $141 million for provincial coffers.
“The economy is coming back, beter here than anywhere else,” Stelmach told reporters in Calgary, after announcing $25 million for a new agriculture events centre on the Stampede grounds.
Stelmach said the government’s firstquarter (April to June) fiscal report will show a “very positive” financial picture for the province and lower projected deficit. He also didn’t rule out the possibility for a surplus when asked by reporters.
“Let’s not just depend on those oil prices because anything can happen,” he added.
Queried about his plans once he resigns as premier Oct. 1, Stelmach said Alberta’s eye-popping job growth means there will be “a good job opportunity for me personally.” He promised to take “a little breather” on his farm but remain MLA for his Fort Saskatchewan-Vegreville riding until the next provincial vote to avoid an unnecessary byelection.
The province’s transition allowance -which pays three months salary for every year served as MLA -means Stelmach is in line to take home nearly $1 million in severance.
The premier said he will “definitely honour” the province’s oneyear cooling-off period that prevents politicians and senior staff from lobbying government, “and then we’ll see what happens from there.” He ruled out taking a foreign diplomatic posting like former western premiers Gordon Campbell and Gary Doer.
“There will be opportunities, but (I’m) certainly going to be living back on the farm,” the premier added.
Alberta Liberal finance critic Hugh MacDonald lauded the premier for promising to remain an MLA and avoid a costly byelection.
“I tip my hat to him for doing that. I think that’s the right thing to do. He is not bailing on the constituents who, over the years, have sent him to the legislature to represent them,” MacDonald said.
Read more: http://www.calgaryherald.com/business/Surging+economy+good+Alberta+Stelmach/5106425/story.html#ixzz1SCGxzwyO
0 comments on “Surging economy good for Alberta, Stelmach”