A Calgary Journal special report compares Jim Prentice’s response to today’s bust to Don Getty’s similar response in the 1980s
Jim Prentice faces the grim reality of dropping oil prices and a growing deficit. The Alberta government looks to solve the current crisis by a mix of cutting spending and increasing revenue. In this special report, we rewind 30 years, to examine another fiscal crisis and another conservative government’s response. In 1985, then Alberta Premier Donald Getty faced a similar situation and according to the analysts we spoke to, tried a similar fiscal recipe without much success.
Some ask — how many fiscal crises will Alberta have to go through before the government learns how to better prepare for these inevitable downturns?