EN FR

$100-billion debt tab a wake-up call for Alberta

Author: Franco Terrazzano 2020/08/27

EDMONTON, ABThe Canadian Taxpayers Federation is calling on the Alberta government to tackle its spending problem in response to today’s dire fiscal update.

“For years, politicians have been hitting the snooze button while the government’s spending has been skyrocketing and our finances have been deteriorating,” said Franco Terrazzano, the CTF’s Alberta Director. “Today’s fiscal update and the $100-billion debt tab is a loud wake-up call for the politicians and interest groups who think we can keep racking up charges on the taxpayer credit card. It’s time for Alberta politicians to stop procrastinating and tackle the government’s overspending problem.”

The 2020 first quarter fiscal update forecasts a $24.2-billion deficit, while the debt is expected to reach $99.6 billion by the end of the year. The interest costs on the debt are expected to be $2.5 billion this year, which is more than $500 per Albertan.

The Alberta government has the highest per person spending in Canada, according to the Blue Ribbon Panel on Alberta’s finances. The panel also found that Alberta would spend $10.4 billion less every year if its per person spending was in line with British Columbia, Ontario and Quebec.

“Alberta’s in fiscal quicksand and we’ll need quick action to get out before we are up to our necks in debt,” said Terrazzano. “Struggling Alberta families and businesses can’t afford to keep paying for a high-cost provincial government, so Premier Jason Kenney needs to cut spending and grow the economy.”


A Note for our Readers:

Is Canada Off Track?

Canada has problems. You see them at gas station. You see them at the grocery store. You see them on your taxes.

Is anyone listening to you to find out where you think Canada’s off track and what you think we could do to make things better?

You can tell us what you think by filling out the survey


Join now to get the Taxpayer newsletter


You deserve to know the real story about what happens to your tax dollars. We expose funny and infuriating stories about governments wasting money on stupid things. And we hold politicians accountable because taxpayers deserve transparency.

You can get the inside scoop right from my notebook each week so you can hold politicians accountable for hilarious and infuriating stories the media usually misses. You can sign up for the Taxpayer Update Newsletter now.
— Franco Terrazzano, Federal Director

Looks good!
Please enter a valid email address

We take data security and privacy seriously. Your information will be kept safe.

<