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

Alberta Finance Minister Nate Horner received an overall grade of B, the second highest in the country.

“Horner is doing well compared to other provincial finance ministers, but he must cut the size and cost of government and tackle interest costs on the provincial debt,” said Kris Sims, CTF Alberta Director. “It’s great to see Alberta cut taxes and protecting taxpayers, but the government also needs to stop racking up debt and wasting billions of dollars on those debt interest payments.”

Horner received the following grades in each category:

Debt: C

• Alberta’s debt is initially going down this year, but the government is planning to push it back up by borrowing at least $5.2 billion this year. Every Albertan owes about $16,684 in the provincial debt, the second lowest in the country.

Debt interest payments: B

• Debt interest payments will cost taxpayers $2.9 billion or about $598 per Albertan, the lowest in the country.

Spending Increase: F

• The government is spending about 8.4 per cent more this year compared to last year’s budget. That’s the second highest in the country.

Tax Relief: A+

• The government is cutting the lowest income tax rate from 10 to eight per cent. The government estimates this will save a two-person working family about $1,500 per year.

“Alberta’s tax relief really helps families and businesses and that makes our province stand out as a strong place to live and set up shop,” Sims said. “But it’s unwise to hike spending and dive back into debt when the province is already wasting nearly eight million dollars a day on debt interest payments.”

Overall ranking of provincial finance ministers:

You can find the full report card HERE.

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