Canada provides C$251 million payment to hard-hit Alberta

Tue Feb 23, 2016 11:19am EST
 
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TORONTO (Reuters) - Canadian Finance Minister Bill Morneau said on Tuesday the federal government will provide Alberta with an advance fiscal stabilization payment of about C$251.4 million ($182.12 million).

Prime Minister Justin Trudeau said earlier this month the government was prepared to provide an advance payment to the oil-producing province, where the jobless rate has spiked to its highest since 1996.

($1 = 1.3804 Canadian dollars)

(Reporting by Jeffrey Hodgson)

 
Canada's Finance Minister Bill Morneau speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Canada, February 22, 2016. REUTERS/Chris Wattie