Finance Minister Nate Horner says declining oil prices and ongoing global trade conflict and uncertainty mean the government faces what he calls "tough choices."

He says the goal is to make responsible decisions to protect the province's financial future.

The current budget is already deep in the red ink.

The province is projecting a $6.4-billion deficit when the fiscal year ends in March.

That represents a massive multibillion-dollar swing from an $8.3-billion surplus the year prior.

This report by The Canadian Press was first published Feb. 3, 2026.