CALGARY — Canada’s finance minister says he will delay tabling a budget until April because of economic uncertainty caused by tumbling oil prices.
Joe Oliver said in prepared remarks to a Calgary business crowd that the government needs all the information it can get before finalizing its fiscal plan for the coming year.
He said low oil prices hurt the bottom line of oil companies, which leads to decreased investment and less employment.
READ MORE: Federal government still pledging balanced budget despite oil prices
In turn, he said, that reduces tax revenue both provincially and federally.
Oliver pointed out there is no consensus on how low oil prices will fall or how long they will stay there.
The last federal budget was released in mid-February 2014, while the budget in 2013 came out that March.
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