The Alberta government says there is no way the province can keep waiting for a rebound in oil prices. This year, there is expected to be a $7 billion dollar decline in resource revenues. Premier Jim Prentice says Alberta has to look for other ways to make up the shortfall, and that also includes a change in taxation, namely the province’s 10 percent flat tax, which Prentice fears has a regressive impact on the province’s working poor. NDP Leader Rachel Notley, for her part, as said the flat tax has got to go. She believes it’s long since become a tax which only affects Alberta’s millionaires. Prentice noted both financial and energy experts have made it clear prices are not going to recover any time soon.
– Posted by BET
