Peter Munk Centre for Free Enterprise Education
Ratings agency DBRS has downgraded Alberta’s credit rating from AA (high) to AA.
British Columbia, with its lower level of per student spending, has some of the best student performance results in Canada.
Between 2015/16 and 2017/18, the provincial government plans to increase spending by 11 per cent.
In 2015/16, Alberta is scheduled to run its seventh deficit in eight years.
The provincial government introduced numerous tax increases, essentially ending Alberta’s tax advantage relative to key competing jurisdictions.
The real culprit for Alberta’s fiscal problems—and ultimately the recent credit downgrade—is several years of rapid spending growth by successive governments.
Today, Standard and Poor’s downgraded the Alberta government’s credit rating in part due to “concerns of weak budgetary performances and rising debt burden.”