“In fact, now we have even more uncertainty,” said Fraser. “The new government has overdosed our economy with NDP policies and it’s creating more job losses in the middle of a downturn. Just go into your local bank and they’ll tell you how many hard-working Albertans are coming into their branch, saying they’ve just lost their job. It’s too much all at once.”
Fraser said NDP policies like higher business and personal income taxes, an unclear emissions reduction framework and the timing of a dramatically-higher minimum wage are hurting the Alberta economy. He also highlighted the lack of any clear direction for the royalty review panel, the scope of its review or any idea of possible outcomes. Fraser expressed further concern about who would be on the panel and whether there would be anyone with energy industry experience.
“Industry is telling us they’re willing to work with the government but they’re frustrated with the complete lack of clarity they’re getting about future direction,” said Fraser. “It’s making it very difficult for them to plan. It’s going to be even worse if the Energy Minister wants to have a new royalty review every few years, as she said this morning. When will all this uncertainty end?
“People and companies will find ways to survive. If that means leaving Alberta and finding better opportunities elsewhere that’s what they’ll do,” Fraser concluded.