TORONTO—The Canadian province of Alberta, home to the world’s third-largest oil reserves, said on Monday it will accelerate a corporate tax cut and invest $10 billion (US$7.31 billion) in infrastructure projects to jump start an economy badly damaged by the coronavirus pandemic.
Premier Jason Kenney, who said the tax cut would take effect July 1, described the program as the largest infrastructure investment in Alberta’s history. The corporate tax rate will fall to 8 percent from the current 10 percent , two years sooner than scheduled.
