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Premier’s Inflation Relief Act eyed by experts

by News Desk
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Albertans weigh heavily Daniel Smith’s Inflation Mitigation Law The day after the new Prime Minister announced targeted measures in a televised campaign-like speech.

The law, which will go into effect in January, will pay out $600 for six months to families earning less than $180,000 per child under the age of 18.

Older people can also benefit.

In addition, Smith said the government will index income support to inflation, offer consumers $200 in electricity bill rebates during the winter, and suspend statewide fuel taxes for at least the next six months. increase.

The $2.4 billion plan has at least one optimistic economist.

Trevor Tombe says the package will help families, who typically spend a lot on gas and food, combat debt and mounting bills.

But he doesn’t believe it will fight inflation.

“These measures are meant to ease household budgets,” he told CTV News.

“It doesn’t necessarily boost or depress overall economic activity.”

A professor at the University of Calgary believes the boon will go a long way in helping parts of Alberta that are in need during the winter.

His key word is “some”.

Pointing to the lack of direct payments to childless adults, Tombe said it “missed an opportunity to provide more targeted assistance to people in Alberta, who are typically low-income.” .

long-term election strategy

University of Lethbridge political scientist Trevor Harrison says the missing pieces are easy to explain.

“You have to think of this as targeting a group that wants to get back into the fold again,” he said.

“The idea here is that[seniors and parents]are the people most likely to vote.”

The measures will be held for 6 months. That’s when Albertans next turn to vote.

“So a lot of people are going to wonder how much of a campaign this is and if[payments]go away again,” Harrison said.

“This was the first salvo that I think is going to be a very bitter campaign.”

inflation lie

In Tuesday’s announcement, Smith attributed high inflation mainly to the federal government and its heavy spending.

Tombe says it’s wrong.

“Most of the inflation that we are seeing, and much of the acceleration in inflation over the past year, has been driven by external supply-side factors, not by Bank of Canada or federal government spending,” he said. Told.

Smith’s announcement came before Alberta’s Finance Minister Travis Touse released his midyear financial and economic statement on Thursday.

(with file from Canadian Press)

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