The province's net asset position deteriorated by nearly $23,000 per person between 2007 and 2021.
Lower tax rates improve incentives for people to work, save, invest and engage in entrepreneurship.
According to forecasts, the province's net financial debt will eclipse $69 billion this fiscal year.
Government debt interest will cost Albertans a projected $3.0 billion by 2022/23.
The Trudeau government created a new top tax bracket that raised the top federal rate to 33 per cent.
The most successful deficit-elimination efforts in recent Canadian history featured shorter timelines.
Alberta continues to make an outsized contribution to federal finances.
The province has one of the highest top personal income tax rates in North America.
Alberta’s personal income tax return relies on federally-determined income to calculate provincial income.