OTTAWA – The federal government has confirmed plans to provide $251.4 million to Alberta within program designed to help provinces hit by sudden revenue downturns.
Alberta continues to be sideswiped by collapsing oil prices and the little-known fiscal stabilization program provides help when provincial revenues fall by more than five per cent from one year to another.
Money from the program is allocated on a per capita basis, at $60 a person.
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The chance of Alberta qualifying your money can buy was first reported recently by The Canadian Press.
Newfoundland and Labrador, that has been hit by sagging oil prices, may also qualify and the authorities says it will quickly assess such a claim if the province applies for money.
“Canadians expect us to work together to assist families through trying times,” Finance Minister Bill Morneau said inside a statement.
