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  • Thank you, as always for your succinct and cogent analysis. Consider that increased taxation to support provincial government spending, while entirely justified, is essentially a shift in spending, not an increase, and its stimulative effect will be small. Particularly with the collapse of oil revenues, Alberta must receive substantial federal support. The federal gov’t which owns a central bank with sovereign currency has the fiscal capacity to fight long wars, bail out the whole financial system at times of crisis, and can certainly support the sick, the unemployed and ailing provinces like Alberta during the coronavirus outbreak and a recessed economy. A massive Green New Deal which allows for transition would be an excellent step. And hopefully Alberta politicians will stop their counterfactual sermons on how the federal gov’t depends on oil revenues.

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