The Notley government’s failure to restrain spending is quickly growing Alberta’s debt burden.
alberta government spending
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.
The Notley government increased spending by nearly 13 per cent over is first two full fiscal years in office.
Successive governments have increased spending faster than the rate of economic growth or inflation-plus-population.
Equalization makes for a handy scapegoat, but successive Alberta governments have no one to blame but themselves for the province’s fiscal problems.
When oil prices were high, successive governments spent freely as though the good times would never end.
The Notley government overshot its budgeted spending levels by $2 billion in 2016/17 and $1 billion in 2017/18.
Once its net debt reaches $48 billion in 2020/21, Alberta will have burned through $83 billion in net assets in 13 years.
Fort McKay reduced spending and reoriented its business strategy toward income stability.