28 March 2008
Ottawa, Ontario
Prime Minister Stephen Harper and Premier Ed Stelmach annou unced today that Alberta will receive $104 million as part of the new national Community Development Trust.
The Government of Canada created the trust to help provinces and territories assist communities and workers suffering economic hardshi p caused by the current volatility in global financial and commodities markets. The Trust will be funded with $1 billion from the projected 2007–08 federal budget surplus and has a three-year lifespan.
"The Community Development T rust was a commitment by Ottawa to help the hard-working families and communities of our country influenced by international economic instability, and I am pleased Alberta is taking advantage of this opportunity," said Prime Minister Harper. " The Trust complements a number of federal initiatives designed to ensure a healthy Canadian economy for years to come."
Premier Stelmach acknowledged the Prime Minister's leadership in establishing the Trust, noting certain Alber ta sectors are not immune to international economic volatility.
"Alberta is fortunate its economy is strong and most sectors are on solid ground," said Premier Stelmach. "However, industries like forestry and livestock are e xperiencing some turbulent times. This funding allows us to target those communities affected by changes in the global marketplace."
The Alberta government will use funding from the Community Development Trust in a variety of areas, inc luding:
- Training and skills development assistance for workers affected by recent adjustments in the economy.
- Assist greater Aboriginal participation in Alberta's labour force.
- Investments aimed at strengthening communities reliant on Alberta's agriculture and forestry sectors, and assisting those communities affected by the Mountain Pine Beetle.
- Investing in research and innovation to develop new and value-added opportunities.
- Developing and strengthening targeted infrastructure to foster economic transition.
The Alberta government has agreed to administer the funds that it receives and to comply with Canada's obligations pursuant to the North American Free Trade Agr eement, the Softwood Lumber Agreement and its membership in the World Trade Organization.
