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.
Province’s net financial position could decrease by another $14 billion in 2016/17, making it a net debtor province.
The last thing businesses and consumers need is yet another new tax piled on top.
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.
Let’s look at the expected fiscal balances in Canada’s 10 provinces for 2015/16.
When Finance Minister Joe Ceci unveils Alberta’s budget on Oct. 27, Albertans can expect a sizeable deficit. In fact, the government’s latest data suggest a $5.9 billion deficit, but Minister Ceci has cautioned it could be “in the range of $6.5 billion.” In either case, the amount isn’t trivial.