EDMONTON, AB: The Canadian Taxpayers Federation is urging the provincial government to reduce the size and cost of government, as the 2024 fiscal year end shows the debt is still going up.

“Alberta’s debt is still going up and that’s not OK,” said Kris Sims, CTF Alberta Director. “This government must reduce the spending and borrowing or taxpayers are going to get hammered even harder in 2025.”

Alberta Finance Minister Nate Horner delivered the 2024 year-end fiscal update in Calgary on Friday.

Interest payments on the debt cost Albertans $3.2 billion in fiscal year 2024.

Alberta’s debt, as of 2024-25 is now estimated at $85.2 billion.

In 2023-24, the debt was $81.8 billion.

That’s an increase of $3.3 billion on to the provincial debt in one year’s time.

In 2022-23, the debt was $79.3 billion.

“The debt is being increased year over year over year and this has to stop,” said Sims. “The Alberta government must focus on reducing the size and cost of government.” 

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