Calgary, November 3: Low-income Albertans and those with student debt are set to receive support from today’s federal fiscal update.
But while Ottawa’s deficit is declining – actually benefitting from inflation – the government is offering little in terms of new spending.
It’s hard enough for most students to afford an education in Alberta, and large tuition hikes aren’t making it any easier.
But financial relief is now on the way.
Ottawa is eliminating interest payments on all federal student loans and making the Canada Worker’s Benefit a quarterly payment.
Canada’s forecasted deficit now sits at $36.4 billion this year, but a possible recession could increase that to $49 billion.
That’s still lower than projected, but inflation remains high at 6.9 per cent and the central bank has raised its rate to 3.75 per cent to compensate.
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