LETHBRIDGE, AB: The Canadian Taxpayers Federation released its annual Finance Minister Report Card that ranks provincial finance ministers on spending, debt and tax relief in the latest provincial budgets.

Former Alberta Finance Minister Nate Horner received an overall grade of C+, the third highest in the country. Horner received an overall grade of B last year.

“Horner and his finance department slipped down to a lower grade this year because they’re running up the debt and hiking taxes in Alberta,” said Kris Sims, CTF Alberta Director. “Now that Jason Nixon has taken over as finance minister, he should focus on cutting all wasteful spending and stopping this runaway debt.”

The following key grades influenced Horner’s overall ranking:

Debt: C

• The Alberta government is planning to increase the debt by more than $26 billion compared to last budget, reaching $108.9 billion by the end of the year. That works out to about $21,374 per Albertan, the third lowest in the country

Debt interest payments: B

• Debt interest payments will cost taxpayers $3.4 billion or about $669 per Albertan, the lowest in the country.

Tax relief: F

• The budget hikes education property taxes costing Alberta taxpayers $468 million more this year. The government is also introducing a new tax on rental cars that will cost taxpayers about $36 million and increases the hotel tax from four to six per cent, costing taxpayers about $66 million.

“Horner’s budget increased spending and failed to make obvious cuts in order to save money and try to balance the budget,” Sims said. “Tapped-out Alberta taxpayers need tax relief, not hiked taxes and wasteful spending.”

Overall ranking of provincial finance ministers: