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Canada’s Oil Province Uses Covid Crisis to Speed Economic Revamp

From bnnbloomberg.ca

Alberta Premier Jason Kenney is using the Covid-19 pandemic to accelerate efforts to diversify his oil-dependent economy, a change of emphasis for a leader who once pledged to return the Canadian province to fiscal discipline. Kenney’s government announced an economic-recovery blueprint on Monday that includes moving up a cut in the province’s general business tax rate by 18 months. The cut from 10% to 8% would come into effect July 1 instead of Jan. 1, 2022. The province also is planning C$10 billion ($7.3 billion) in infrastructure projects to create construction jobs, investing C$175 million to expand startups’ ... (full story)

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