March 2, 2020

Calgary Herald: Oilpatch has ‘never experienced anything like this’

Employers can defer payments of corporate income taxes until the end of August, a significant step that is expected to give companies access to about $1.5 billion of funds.

The province has also worked with ATB Financial, a provincial Crown corporation, so personal banking customers and small businesses can seek deferrals on loans, mortgages and credit lines for up to six months.

The coronavirus has triggered a collapse in oil prices and will likely spark the onset of a global recession, Kenney warned.

In turn, share prices of some Alberta-based energy companies have dropped by as much as 90 per cent and “we have an industry, to be blunt, that is basically on life support,” he later told reporters.


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In the spirit of truth, reconciliation, and respect, we honour and acknowledge the lands upon which we live and work as guests, including the traditional territories of the First Nations in Treaties 6, 7, and 8 and the citizens of the Metis Nation of Alberta. We thank the First Peoples of this land, which we now call Alberta, for their generations of stewardship of the land, and we seek to walk together in the spirit of truth and reconciliation to build a shared future for all in Alberta.

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