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.
While the headlines on Alberta’s recent budget focused on the planned $6.1 billion deficit this year, the reality is that the true deficit will be even larger.
In addition to spending increases, the Notley government is proposing new tax increases on top of the hikes to personal and corporate income taxes that have already come into effect.
Today's Alberta budget forecasts a $6.1 billion deficit for this fiscal year, and the province is on track to record 10 budget deficits in 11 years.