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Trudeau government considering immediate $1-billion stimulus for hard-hit Alberta, Saskatchewan


Canadian Prime Minister Justin Trudeau has decided to focus initial stimulus efforts in oil-producing Alberta and Saskatchewan, while waiting to assess whether further stimulus is needed nationwide, according to officials familiar with the plans. The government is in talks to quickly allocate $1 billion for infrastructure projects in the two …

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Liberal government’s new environmental rules for pipelines to be released Wednesday


The Liberal government will announce new environmental assessment rules Wednesday afternoon for energy projects – such as the Energy East and Trans Mountain pipelines – that are currently being reviewed by the National Energy Board. Natural Resources Minister Jim Carr confirmed the timing of the announcement for the “transition” process …

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Quebec government faces lawsuits if it backs out of Anticosti Island oil exploration project


CALGARY / MONTREAL – If the Quebec government backs out of its contract to explore for oil and gas on Anticosti Island, its joint-venture partners say they will sue. Even though the provincial government owns a 35-per-cent interest in the joint venture and has a contractual obligation to help fund …

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Federal government to allocate $250 million to help struggling Alberta deal with oil-price slump


OTTAWA — The federal government has confirmed plans to provide $251.4 million to Alberta under a program designed to help provinces hit by sudden revenue downturns. Alberta has been sideswiped by collapsing oil prices and the little-known fiscal stabilization program provides help when provincial revenues fall by more than five …

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Federal government headed for $150 billion in deficits over next 5 years: TD Bank


OTTAWA — An analysis by one of Canada’s biggest banks says the federal government is on track to run $150 billion in budgetary deficits over the next five years. How reckless, excessive borrowing became Canada's national pastime Philip Cross: Total borrowing in Canada across all categories increased by $77.9 billion …

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