Wednesday , August 4 2021

Justin Trudeau tours Calgary amid frustration with ongoing financial woes

  • Watch Justin Trudeau live here at Calgary Chamber of Commerce at 1:15 MT

Prime Minister Justin Trudeau is the tiptoeing through Calgary on Thursday with the provocation of ongoing financial woes and one day after his finance minister has a fiscal update, his Alberta counterpart said that Ottawa is "a different economic planet."

Trudeau will have many appeances throughout the city, starting from a tour of a affordable housing complex, before speaking at the Calgary Chamber or Commerce, meeting with oil and gas leaders, meeting with Calgary Mayor Naheed Nenshi and finishing with a women's hockey festival

He'll be met by at least one protest along the way, calling on Ottawa to do

During his first stop, Trudeau announced $ 31 million to build a 15-storey, affordable, rental housing tower in the city's southwest geared toward middle-class families.

It will house 121 units when complete and Trudeau said it will use energy storage, wind, solar and battery power to make the project energy efficient and help residents save money on bills.

Fiscal update reaction

On Wednesday, Finance Minister Bill Morneau outlined Ottawa's latest financial plans, which included the ability to oil and gas producers to write off capital expenditures related to manufacturing.

But Alberta's Finance Minister Joe Ceci was angry, the fiscal update did not include a direct line item to help bolster the province's ailing energy sector and help close the price gap between benchmark oil prices and Alberta's oil.

"Ottawa is living on a different economic planet. We must get our product to tidewater and nothing today moves us closer to doing that. This update does not address one of the biggest concerns Albertans have: getting non-renewable resources for fair value, "Ceci said media Wednesday afternoon.

The Canadian Association of Petroleum Producers welcomed the tax writeoffs but called it a "positive first step" and not a solution to the industry.

Trudeau dodged a question on whether his government will help move more oil by rail when questioned by on Thursday and instead touted the tax move.

Provincial action

On Thursday morning, Alberta Premier Rachel Notley said a crowd at Calgary's Petroleum Club that if Ottawa would not be able to increase the ability to get out of rail, the province would find a way to buy additional rail cars itself

She also announced an exemption from some carbon tax costs for drillers and said there were six projects under consideration for government investment to partially upgrade bitumen in Alberta, making it easy to transport and refine.

On Tuesday, the government announced it will increase its commitment to petrochemical programs, raising the available incentives from $ 1 billion to $ 2.1 billion.

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