No Opposition party has signalled it would balance the budget in the near- or medium-term.
debt and deficit
Alberta has run nearly uninterrupted deficits since 2008/09.
The Notley government’s failure to restrain spending is quickly growing Alberta’s debt burden.
Ontario spends about nine per cent of all revenue on government debt-service payments.
The federal government expects the deficit in 2018-19 to reach $18.1 billion and grow next year to $19.6 billion.
Program spending this fiscal year will reach $320.2 billion.
Just six months into its 2018/19 plan, the government upped spending by $8 billion.
The PBO projects in 2042 Alberta will have more debt relative to the size of its economy than Ontario.
The government’s operating deficit now stands at $14.5 billion—only half a billion less than the pre-update status quo.
Deficits and debts are not free money—they come at a cost.