The province's debt interest costs were more than $400 per person in 2018/19.
Tax revenue from Albertans helps fund services all Canadians enjoy.
A proliferation of regulations and government interventions have dramatically shaken investor confidence.
The Notley government imposed a 100 megatonne cap on greenhouse gas emissions from the oilsands.
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.
Ontario has seen its net debt increase by $126.5 billion since 2008/09.
The severity of Alberta’s fiscal problems hit home with many Albertans this week as Premier Prentice announced that the upcoming provincial budget will include an across-the-board five per cent spending cut.
Alberta Premier Jim Prentice and Finance Minister Robin Campbell have made it clear the province will reduce government spending in its March budget.
After governments abandon fiscal prudence, they will soon search for any and all ways to tax people more. This is the reality playing out in Alberta where Premier Jim Prentice has floated multiple tax increase trial balloons.