Calgary philanthropist says fiscal crisis is all of our responsibility

Calgary philanthropist says fiscal crisis is all of our responsibility As the province works on a budget that is expected to have major cuts, a prominent Calgary businessman and philanthropist is reminding Albertans this is not a new situation, nor one we haven’t overcome before.Jim Gray, Chairman of Brookfield Asset Management, believes the current state of oil prices is part of the ebb and flow of the economy.“We’re going to have these corrections periodically,” he said. “When this one’s over, there’ll be another one in five or 10 years, for sure.”Gray has experienced multiple oil price collapses in his almost 60 years in Alberta and said 2015 is going to be a tough year, but not one we won’t be able to get through.He also believes that it is not solely on the government to help our province get out of its current slump.Gray said it’s important for Albertans to live within their means, something that many weren’t doing when the price of oil was at $100 per barrel.As for the budget, Gray thinks there will be major cuts, but that they will help the province save for the future and like everyday residents, the government must also budget and live within its means.“We’ve got to budget for a very realistic price, I’ve noticed that this government is going to budget for $52 a barrel for this budget that’s coming out,” he said. “I think that’s eminently responsible.”The provincial budget is expected to be released by the end of March. by News Staff Posted Mar 3, 2015 6:04 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more