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Significance
With steep reductions in public spending affecting education and social programmes, the budget signals an era of austerity in what had been Canada’s wealthiest province. One consequence is likely to be greater tension between the provincial government and the federal government in Ottawa.
Impacts
Major international funds will continue to divest from the oil sands sector, further depressing output as subsidies are cut.
Remaining oil sands production will be increasingly automated, meaning that structural unemployment will persist.
Ottawa’s refusal to contest US cancellation of the Keystone XL pipeline has raised tensions with the UCP government in Edmonton.
The national broad-based economic recovery expected this year will largely bypass Alberta.
Keywords:
Canada,
NA,
United States,
economy,
international relations,
politics,
climate,
natural resources,
oil,
coal,
investment,
party
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2021
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