This year Alberta is projected to run a budget deficit of $10.9 billion.
alberta debt
Sustained program spending growth by successive governments is the primary reason for the big deficits.
The NDP government has unwittingly told would-be investors and entrepreneurs that their efforts and talents are better deployed elsewhere.
According to the annual report, the province’s operating deficit for the year was $6.4 billion—about $300 million more than projected by the Notley government.
Alberta's overall net financial assets deteriorated by $9.2 billion last year.
The Notley government is spinning like mad to distance itself from some painful numbers.
As oil royalties have fallen, Albertans have endured multiple tax hikes and a S&P downgrade.
The government has moved from a 10 per cent flat rate personal income tax to a progressive tax with steeper rates.
Alberta projects a budget deficit of $28.9 billion over the next three years.
Ontario’s cumulative deficit from 2009 to the end of last year was approximately $81.9 billion—50 per cent more than projected in 2009.