New report confirms Kenney's budget will tip Alberta into recession and kill more jobs than the oil price collapse of 2014-16

EDMONTON, Alberta, Oct. 30, 2019 (GLOBE NEWSWIRE) -- A new report has confirmed earlier warnings that the UCPa??s first budget will kill as many as 114,000 jobs, split between the public and private sectors, and a??put Alberta on a short path to economic recession.a??
The report, entitled The a??Kenney Recessiona?? Confirmed, is a follow-up to an earlier report that modelled the impact that recommendations from the MacKinnon Panel would have on jobs and the economy in Alberta.That earlier report, entitled The Kenney Recession, concluded that MacKinnona??s recommendations, if implemented, would kill more jobs in Alberta than had been lost during the oil-price collapse of 2014-16. It also criticized MacKinnon for relying on outrageously rosy revenue projections.The new report, being released by the Alberta Federation of Labour today, confirms that by following closely to recommendations from the MacKinnon panel, the Kenney governmenta??s new budget will likely tip the Alberta economy into recession.a??The UCP ran on promises of jobs and economic growth: but with this budget, Albertans will be getting the opposite of those things,a?? says Alberta Federation of Labour president Gil McGowan.
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