Alberta Government Cuts Salaries for Cabinet Ministers

Oil Prices Falling

Oil Prices Falling

Falling Oil Prices Spark Concern for Fiscal Cuts

EDMONTON – The falling price of oil has the province of Alberta looking at the economic impact seriously. Premier Jim Prentice announced today that there will be cuts to the salaries of cabinet ministers.

Effective February 1, Alberta cabinet ministers will voluntarily take a five per cent wage reduction as part of their commitment to exercising fiscal discipline in these challenging times.

“While work on our overall budget challenges is ongoing, Albertans are clearly telling us that they expect their political representatives to be part of the solution. All members of cabinet understand how crucial it is to lead by example, and for political representatives not to ask anyone to accept any measure we would not accept ourselves,” stated Premier Jim Prentice.

In addition, the Vice Chair of the Members’ Services Committee, George VanderBurg, will prepare a motion for next week’s committee meeting recommending that MLAs take the same five per cent reduction.

“Our members appreciate that these are times of restraint. I anticipate full support from MLAs who are hearing from their constituents about the need for us all to show leadership and restraint,” commented George VanderBurg, MLA Whitecourt-Ste. Anne.

The dropping price of oil has revenues for Alberta, and other oil producing provinces dropping. Additionally, there are growing numbers of companies in the oil industry who are dropping their exploration budgets.

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