The government of Alberta said Monday its deficit will hit record levels due to the swoon in crude oil prices and an economic slowdown and will consider increasing taxes to reduce that budgetary shortfall. Finance Minister Joe Ceci said Alberta expects the deficit to grow to an all-time high of 5.9 billion Canadian dollars ($4.5 billion) in the fiscal year that began April 1. He said the deficit could hit C$6.5 billion if oil prices remain low, reflecting the province’s reliance on crude production as its chief engine of growth. “There is no doubt that our big challenge is commodity prices that our government in Alberta does not control,” Mr. Ceci said at a news conference in the provincial capital of Edmonton. “No one expected global oil prices to reach levels that they’re at today,” he told reporters. The deficit in Alberta is a poor omen for Canada […]