alberta credit rating

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Alberta’s credit upgrade belies risk of red ink on the horizon

Compared to the government’s 2022 mid-year plan, it will spend $6.1 billion more in 2023/24.

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Alberta taxpayers on the hook for growing government debt interest payments

According to the Kenney government, debt interest costs will hit $3 billion by 2022/23.

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Ratings agency DBRS has downgraded Alberta’s credit rating from AA (high) to AA.

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British Columbia, with its lower level of per student spending, has some of the best student performance results in Canada.

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Between 2015/16 and 2017/18, the provincial government plans to increase spending by 11 per cent.

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The provincial government introduced numerous tax increases, essentially ending Alberta’s tax advantage relative to key competing jurisdictions.

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The real culprit for Alberta’s fiscal problems—and ultimately the recent credit downgrade—is several years of rapid spending growth by successive governments.

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Today, Standard and Poor’s downgraded the Alberta government’s credit rating in part due to “concerns of weak budgetary performances and rising debt burden.”