{"id":239145,"date":"2019-12-04T01:53:25","date_gmt":"2019-12-04T06:53:25","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=239145"},"modified":"2019-12-04T01:53:25","modified_gmt":"2019-12-04T06:53:25","slug":"alberta-credit-rating-downgraded-due-to-weak-economy-4-7-billion-handout","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/12\/04\/alberta-credit-rating-downgraded-due-to-weak-economy-4-7-billion-handout\/","title":{"rendered":"Alberta credit rating downgraded due to weak economy, $4.7 billion handout"},"content":{"rendered":"<figure id=\"attachment_216759\" aria-describedby=\"caption-attachment-216759\" style=\"width: 2048px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/05\/46955590334_a2a5bb096d_k.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-216759\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/05\/46955590334_a2a5bb096d_k.jpg\" alt=\"\" width=\"2048\" height=\"1363\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/05\/46955590334_a2a5bb096d_k.jpg 2048w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/05\/46955590334_a2a5bb096d_k-768x511.jpg 768w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption id=\"caption-attachment-216759\" class=\"wp-caption-text\">FILE: Premier Jason Kenney and Cabinet are sworn in at Government House, in Edmonton on Tuesday, April 30, 2019. (<a href=\"https:\/\/www.flickr.com\/photos\/premierofalberta\/46955590334\/\">Photo<\/a> by Chris Schwarz\/Alberta Government via <a href=\"https:\/\/www.flickr.com\/photos\/premierofalberta\/\">Premier of Alberta\/Flickr<\/a>, <a href=\"https:\/\/creativecommons.org\/licenses\/by-nd\/2.0\/\">CC BY-ND 2.0<\/a>)<\/figcaption><\/figure>\n<p style=\"font-weight: 400;\">EDMONTON &#8211; Moody\u2019s has downgraded the province\u2019s credit rating, citing failure to diversify, and overall mismanagement of Alberta\u2019s economy by Premier Jason Kenney and his UCP government.<\/p>\n<p style=\"font-weight: 400;\">In a press release, Moody\u2019s referenced \u201cstructural weakness in the provincial economy\u201d and the $4.7 billion corporate handout as reasons for the downgrade. Moody\u2019s stated the UCP\u2019s corporate gift will \u201cpressure revenues over the next few years\u201d despite the UCP\u2019s claims to the contrary.<\/p>\n<p style=\"font-weight: 400;\">\u201cOn the day when we finally turn the corner on market access and break ground on TMX due to Rachel Notley\u2019s tireless efforts, we also have further proof the UCP economic plan is not working,\u201d said Shannon Phillips, NDP Finance Critic. \u201cThe $4.7 billion corporate giveaway has created no jobs to date, and this government&#8217;s corruption and pro-separatist rhetoric has chased away investors.\u201d.<\/p>\n<p style=\"font-weight: 400;\">In addition, Moody\u2019s stated that part of the reason for the downgrade was due to \u201c\u00a0the province&#8217;s debt burden stabilizing at a higher level than previously forecasted\u201d despite Kenney and the UCP\u2019s claims to be reducing debt levels.<\/p>\n<p style=\"font-weight: 400;\">\u201cWith cuts to social programs, Jason Kenney seems content to move our province backwards while increasing the deficit by $2 billion. The UCP debt is virtually the same as the NDP, but the difference is the UCP blew a hole in the budget, has no diversification plan, has presided over thousands of job losses with no end in sight,\u201d said Phillips.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EDMONTON &#8211; Moody\u2019s has downgraded the province\u2019s credit rating, citing failure to diversify, and overall mismanagement of Alberta\u2019s economy by &hellip;<\/p>\n","protected":false},"author":44,"featured_media":216759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,16],"tags":[],"class_list":["post-239145","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-ca","category-news","mauthors-albertas-ndp-caucus"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/239145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=239145"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/239145\/revisions"}],"predecessor-version":[{"id":239146,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/239145\/revisions\/239146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/216759"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=239145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=239145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=239145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}