Alberta imposes cost saving measures over falling energy revenues
Premier Prentice says the government could see a $7-billion drop in resource revenue.
EDMONTON — Alberta is imposing some cost-saving measures to help deal with sharply falling resource revenues.
Premier Jim Prentice says government hiring will be restricted to critical or frontline positions.
There will also be spending restrictions for goods and services and on discretionary items such as travel and training.
Prentice has formed a special committee of cabinet ministers to work on the government’s upcoming budget.
He says the province faces significant challenges as oil prices drop below US$60 a barrel, which he calls a significant hit to Alberta’s finances.
Prentice says the government could see a $7-billion drop in resource revenue this year.
The cost-saving measures will also apply to Alberta Health Services, schools, universities, colleges and agencies.
© 2014 The Canadian Press