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Alberta’s fiscal report offers BANNISTERGM.COMANNISTERGM.COM
challenges but don’t panic BRAND NEW 2014 ENCORE
CLOTH, AWD, 4YR/80,000
NOW 25,999
says Campbell BUMPER,WARRANTY 14-161
by Adrienne Tait So, where does the province go from here?
“We are facing these challenges head on and
“The challenges we face are serious but don't laying the groundwork to provide long-term fiscal
panic,” said West Yellowhead MLA, President of sustainability. Budget 2015 will include a 10-year
Treasury Board, and Minister of Finance Robin plan that will help us minimize the effect of volatile
Campbell of the third quarter fiscal update results. energy prices and provide predictable and
A current budget surplus of $465 million is still sustainable funding for programs and services.
projected although it is significantly lower than the Albertans are increasingly engaged in the process
$1.1 billion anticipated in the last budget. and I want to thank everyone who shared their input
The total 2014-2015 revenue has been revised to over the past several weeks,” said Cambell.
$44.8 billion, $397 million higher than the budget As of Wednesday, over 38,000 Albertans had
estimate, due primarily to better results in the first responded to the Alberta budget survey providing
nine months for corporate income tax and between 1,600 and 1,700 pages of responses and
investment income. comments. “Right across the board, the number one
Calling the update “one chapter in a very long thing we are hearing is that the government needs to Address: #101, 330 45 St,
story” Campbell's third quarter update reflected a get its spending under control,” said Campbell, Phone:(780) 712-4272
$503 million decrease from the budget due largely to “Once that's under control there are options for
the plummeting oil prices with bitumen royalties alternative revenue streams.”
taking the biggest hit as they are expected to drop The one thing that is not a solution is to solve the Frozen foods at its best!
$644 million from budget to year end. World oil fiscal challenges strictly by government cuts.
prices have fallen more than 50 percent since June. Campbell said, “We would devastate the public BACK IN STOCK!
Despite the fall in commodity prices in the energy sector and economists and bankers are telling us that
sector the full impact will not be felt until the 2015- is not the solution.”
2016 budget. “We are forecasting a $503 million hit What the government is doing to reduce its Won Ton Soup
on natural resource revenues this fiscal year with spending includes restricting the severance pay for
more challenges on the horizon for 2015-2016,” said political staff, a five per cent reduction in cabinet
Campbell. and MLA pay, closure of some international offices,
Investment income is projected to be up by $383 hiring restraints, reduced advertising, travel, and
million with the Heritage Savings Trust Fund sponsorship budgets, and the sale of some

income forecasted at $1.9 billion which is $263 government aircraft.
million higher than budget. Other endowment funds Alberta is expected to have a smaller growth next
income is expected to be $352 million, $75 million year at a forecasted 0.6%.
more than expected. According to the media release, “Negotiated
Operational expenses are presently forecasted at settlements made by previous administrations,
$41.2 billion, $800 million higher than budget including several compensation agreements reached
primarily for forest fires, agriculture and flood after the release of Budget 2014, have increased
assistance, and to pay for negotiated public sector projected spending by $2.6 billion over the next
compensation settlements. three years. This is causing added pressure at a time
In a media release Premier Jim Prentice said, “We when the current government is dealing with a
have taken steps to protect our financial position that significant revenue shortfall.”
will help keep us in the black this year. Contract The 2014-2015 capital plan is forecast to be $6.5
settlements made by previous administrations and billion, $144 million lower than budget however,
significantly lower resource revenues have created a there have been no project cancellations for 2014-
very challenging fiscal outlook for Alberta. This 2015.
requires a reset of our fiscal foundation to address a The plans for a new school at A.H. Dakin, the
$7 billion revenue gap.” Edson hospital, the Grande Cache Community High
While the economic forecast and fiscal update is School modernization, and the Edson airport are
far from a good news scenario, Campbell said the expected to proceed on time and as planned.
West Yellowhead is well positioned to weather the
storm despite the fall in the energy sector and layoffs
impacting our communities. “Our communities are
pretty diversified. Forestry and agriculture are doing 3 year old ARE YOU READY FOR SALEM!RE YOU READY FOR SALEM!
well, tourism will do quite well, coal is not where it Almost All Inclusive
should be but it's holding its own.” Pug/Chihuahua
The lower Canadian dollar is expected to have a cross Harley is Yellowhead Travel
positive impact on the tourism industry as
historically the better exchange rate will attract an active boy June 20 - 27, 2015
American tourists. Alberta residents are also more
likely use any discretionary spending money for who likes to Per person pricing as follows:
travel and vacations more locally or provincially. talk. Double Occupancy: $2385.00
He seems to The above price includes:
Bus transfer from Edson to Edmonton International
get along with Ÿ
cats and dogs Ÿ
Round trip air fare from Edmonton to Boston
Local transportation as needed
P INSTALLATIONS P and is kennel trained. Ÿ
7 nights hotel, taxes and luggage handling
7 breakfasts, 1 lunch, 6 dinners
* Furnaces Replacement Check EARS website for more Ÿ
* Furnaces/Air Conditioners Ÿ famous haunted
All admissions/excursions
Staying at the
* Residential Heating Packages information or to fill out an adoption Ÿ HAWTHORNE
Services of local guide
* Electronic Air Cleaners Ÿ
All taxes
* Humidifiers/Air Exchangers application.
* Furnaces Replacement Rumoured to be haunted: Other tour locations:
* Sheet Metal Work
* Furnaces/Air Conditioners
* Residential Heating Packages The Salem Witch Museum Gold Coast - Gloucester &
* Electronic Air Cleaners Sponsored by: Gallows Hill Theatre Rockport
* Humidifiers/Air Exchangers Witch House Salem & Marblehead
* Sheet Metal Work CRYSTAL CLEAR ELECTRONICS House of Seven Gables Yin Yu Tang Chinese House
Satellite TV sales, installs, service Peabody Essex Museum Boston Duck Tours
Whale Watch & Lobster Bake
4640 3 Avenue Phone: (780) 723-3553 John’s cell 780-723-0147
Edson, AB T7E 1C2 Authorized Dealer Fax: (780) 723-3552 Mon to Fri 8 am to 7 pm Contact Dawn at (780) 723-4475 or Toll free at (888) 723-4478
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