Gov. Sean Parnell unveiled his proposal for the fiscal year 2014 state budget, which weighs in at $1.1 billion “leaner” than the FY13 budget, he said, at an Anchorage Chamber of Commerce meeting Friday afternoon.
Parnell, a Republican, contended that the reduction in spending is a necessary step to respond to slowing oil production, declining oil prices and a sluggish global economy.
“Less revenue means we will spend less in 2014,” Parnell said. “Belt-tightening is nothing new to us, though it does take time to slow this locomotive of state spending.”