No simple solutions to revenue shortfall due to falling oil prices: Prentice

Darpan News Desk The Canadian Press, 28 Nov, 2014 12:54 PM

CALGARY — Alberta Premier Jim Prentice says there are no simple solutions for the revenue shortfall that will be coming due to plummeting oil prices.

Prentice told a Calgary business audience he expects prices to be between US$65 and US$75 a barrel for the rest of the year.

He said low prices could be here for some time and Alberta can't just wait for high prices to return.

The premier said government spending will have to be watched closely and there will be an impact on Albertans.

But he also said there will be no sales tax and Alberta's low tax regime will continue.

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