Rona Ambrose, the interim leader of the federal Tories, will be stopping in Calgary on Thursday on her tour of the country ahead of the federal budget and many will be listening to what she has to say about the economy.
It was another tumultuous day on the markets Wednesday, with the Toronto Stock Exchange posting a triple-digit loss and another drop in the price of oil.
The Toronto Stock Exchange's S&P/TSX composite index ended the day down 159.13 points at 11,843.11, its lowest close since June 24, 2013, when it finished at 11,836.86.
Oil, meanwhile, continued its volatility, hovering around the $28 USD per barrel mark.
Many people expect that Ambrose will address Canada’s current financial situation during her speech to oil industry leaders at the Petroleum Club.
Recently, Ambrose wrote a letter to Prime Minister Justin Trudeau, asking to meet with him to discuss Canada’s ‘rapidly deteriorating economy’.
She says she wants Trudeau to make “three key economic commitments”: limit additional debts, sign and ratify the Trans-Pacific Partnership deal and scrap the Liberals’ promise to cancel income splitting for families.
Ambrose also criticized the Liberals for a “lack of certainty” about environmental approvals that she said is scaring away capital from Canada’s oil sands at a time when she thinks a low loonie could attract foreign investment.
“Investors are saying that Alberta is not a place to invest anymore,” she said.
The lagging economy isn’t all bad news, however. The slumping dollar is paving the way for a big tourism boost in the Rockies, with business brisk in Canmore and Banff.
Ambrose's speech is scheduled to take place on Thursday afternoon.
(With files from the Canadian Press)
