The Notley government’s failure to restrain spending is quickly growing Alberta’s debt burden.
Ontario’s debt grew by 107 per cent over 10 years.
The last provincial budget estimated the government will run deficits until 2023/24.
The Notley government plans to increase spending by $146 million beyond what was budgeted in the spring.
Alberta now has a net debt position of $30 billion.
Equalization makes for a handy scapegoat, but successive Alberta governments have no one to blame but themselves for the province’s fiscal problems.
Alberta’s days of having unusually low debt servicing costs are coming to an end.
When oil prices were high, successive governments spent freely as though the good times would never end.
According to government projections, Alberta’s net debt will hit $56 billion by 2023/24.