Report recommends holding nominal program spending flat until 2022/23.
alberta's finances
Interest payments on Alberta's government debt jumped from $61 (per person) to $655.
The province's debt interest costs were more than $400 per person in 2018/19.
Tax revenue from Albertans helps fund services all Canadians enjoy.
A proliferation of regulations and government interventions have dramatically shaken investor confidence.
The Notley government imposed a 100 megatonne cap on greenhouse gas emissions from the oilsands.
According to the annual report, the province’s operating deficit for the year was $6.4 billion—about $300 million more than projected by the Notley government.
Ontario has seen its net debt increase by $126.5 billion since 2008/09.
The severity of Alberta’s fiscal problems hit home with many Albertans this week as Premier Prentice announced that the upcoming provincial budget will include an across-the-board five per cent spending cut.