Over the past decade, the province of Alberta treated boom-time resource revenues like a permanent state of affairs. That set the province up for fiscal failure, for multiple lost opportunities.
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In the debate over whether the Alberta government should reduce and reform spending to cushion the blow from falling revenues, some claim higher taxes will balance the books.
Over the last decade, higher energy prices and entrepreneur-friendly policies drove Alberta’s booming economy, generating a significant windfall in government revenue.
If there was ever a place that was the anti-Greece when it comes to public finances, it must be Alberta. Compare Alberta to many places around the world, be it European fiscal disasters, or even nearer to home, and in most decades, Alberta shines in comparison.