Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
debt and deficit
Canada’s federal net debt will climb to $831.5 billion by 2022-23.
The budget proposes cumulative deficits totalling $72.8 billion over the government’s first mandate.
This $51 billion increase in spending represents total growth of 20.1 per cent in just three years.
Premier John Horgan’s NDP government campaigned on balanced budgets.
The $10.3 billion deficit the province plans to run this year is just shy of the provincial record of $10.8 billion set last year.
Prime Minister Trudeau is on track to increase per-person federal debt more than any other prime minister in Canadian history who didn’t face a world war or economic recession.
In the last 37 fiscal years, the province has only posted seven budget surpluses.
The province is expected to run a $192 million deficit in 2017-18.
Tucked away in the middle of the country, Manitoba has managed to keep a low profile when it comes to its fiscal situation, but it hasn’t balanced a budget since 2009.