Albertans could receive inflation support, Kenney reveals on his radio show
Alberta Premier Jason Kenney has indicated his United Conservative government will reveal details next week about additional support to help people deal with high inflation.
Earlier this week when Finance Minister Jason Nixon announced a $3.9 billion surplus at the end of the 2021-22 fiscal year ending March 31, Nixon said one of the goals was to examine further ways to help Albertans get through the current stretch of rising prices.
The province already cut its share of the gasoline tax earlier this spring and $150 in electricity rebates will soon flow to cushion the impact of inflation.
On Saturday, while responding to a question about inflation that was put to him by a caller on his provincewide phone-in radio show on CHQR and CHED, Kenney said there will be an announcement about more support, which he believed would come this week.
He did not elaborate on what the measures might be, and a spokesman did not immediately respond when emailed for details.
Kenney told his radio audience there are several explanations for high inflation, including federal monetary policy and large federal deficits, as well as energy shortages linked to Russia's invasion of Ukraine.
“Anyone who says there's just one simple explanation is fibbing,” Kenney said.
“I think most of the experts hope, or project, this will start to come off next year, but we're probably in for a few more months of high inflation.”
Kenney said he agreed with federal Conservative leadership contender Pierre Poilievre's assertion that the Bank of Canada was fueling inflation by, as Kenney put it, “printing tens and tens of billions of dollars of new fiat currency.”
Poilievre has threatened to fire Bank of Canada governor Tiff Macklem if elected prime minister.
Alberta's bread-and-butter oil and natural gas industries have soared in recent months as global economies ramped up while pandemic measures receded and Russia's invasion of Ukraine disrupted worldwide energy supply.
Nixon said another plan for the windfall is to build up the province's $18.7 billion savings nest egg - the Alberta Heritage Savings Trust Fund.
Shannon Phillips, finance critic for the Opposition NDP, said after the windfall was announced that the government is failing to deliver on promised funding for a range of public services, from education to ambulance response.
Kenney said Saturday that the surplus wouldn't have occurred if his government hadn't “exercised spending restraint.”
“One of the problems in modern Alberta is when we get an oil boom, we track our spending up and we spend what comes in. And then when our revenues come down, taxpayers are left holding the bag with debt,” he said.
This report by The Canadian Press was first published July 2, 2022.
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.