Kenney to release long-term plan to kickstart ailing economy

CALGARY (660 NEWS) – Alberta Premier Jason Kenney says his government intends to release a long-term plan on Monday to help with the province’s struggling economy.

Kenney called it a “bold and ambitious plan” that will invest in the long-term productivity of the economy and get Albertans working again.

Alberta has done better than other large Canadian provinces and U.S. states, with lower levels of hospitalizations, lower ICU admissions, and a lower rate of mortality.

And we did it with one of the lightest touches in terms of public health measures.

That was no accident. pic.twitter.com/YoaOW7ZyPi

— Jason Kenney ???????????????????????? (@jkenney) June 29, 2020

The announcement will include the “largest-ever” spending on public infrastructure, including areas like health care and transportation.

The premier says there will be a focus on “diversifying Alberta’s economy in critical sectors,” while still supporting the oil and gas industry.

“You’ll see a very significant increase to the highest level in Alberta history in terms of an annual capital expenditure to create jobs on projects that will improve the productivity of Alberta’s economy in the long term.”

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Kenney added the government will look at ways to make Alberta the most appealing province in Canada to invest in.

He calls the strategy – the most ambitious economic recovery plan offered by any province to-date.

“We will be outlining a number of sectoral strategies in areas of our economy that we need to grow in order to diversify while also articulating policies that ensure a strong future for our oil and gas sector.”

In March, the UCP agreed to provide $1.5 billion to Calgary-based TC Energy Corporation, which is helping with the completion of the XL pipeline.

The budget deficit for this year is now pegged at $20 billion.