There are 175 collective bargaining agreements with public-sector employees coming up for negotiation in the near future.
Alberta will become a net debtor province this year for the first time since 1999/00.
Ontario has seen its net debt increase by $126.5 billion since 2008/09.
The projected deficit is $10.4 billion, up from $6.3 billion last year.
Alberta’s debt could balloon to $36.1 billion by 2019/20—46 per cent more than currently expected.
Provincial program spending between 2004/05 and 2014/15 increased by nearly 100 per cent.
The real culprit for Alberta’s fiscal problems—and ultimately the recent credit downgrade—is several years of rapid spending growth by successive governments.
If the first step towards remedying a problem is admitting that you have one, Alberta is a long way away from fixing its budget woes.
Forecasting oil prices is fraught with difficulty, so it's imperative that the government use the most reliable and up-to-date estimates available.