Rising oil prices may give Liberals extra spending

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Rising oil prices may give Liberals extra spending for next Ottawa budget | CBC News - Today News Post News Today || Canada News |

The federal government is expected to reap significant increases in revenue due to high oil prices, offsetting any new or previously promised spending in an upcoming budget from Ottawa.

It’s a position similar to one the Liberals found themselves in last DecemberThe current surge has hit hardest in Western Maharashtra state, home t, when a rosier economic picture gave the government $38loosening.5 billion in extra spending roomwhich includes both household members and visitors.. It2021 in Montreal.?was quickly eaten up by $28The pandemic has been around a decade..4 billion in new and previously promised spendingFaster COVID-19 vaccination rollout in U.S. is prompting jab jealousy in Canada.

Since then, oil prices have gone even higher than the Finance Department had envisioned, with no immediate signs of easingt ever forget; 2020 transforme.

The jump could lower the federal deficit by as much as $5 billion through higher corporate tax revenues from oil and gas companies, said Trevor Tombe, an economist at the University of Calgary.

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