Forty-one billion dollars. That’s the extra amount, over and above what was needed to keep pace with population growth and inflation between 2006 and 2013, this to fund Alberta government program spending in those years.
Alberta Premier Jim Prentice is in the midst of formulating his first budget and the fiscal path of the province while watching oil prices continue to decline.
Le Québec demeure la province canadienne la moins attrayante pour les investisseurs pétroliers et gaziers
Les gouvernements canadiens versent des milliards de dollars en subventions, notamment aux entreprises
As Ontario continues to undermine its economic future with growing debt, the province does not receive near the critical scrutiny it should from the media and financial markets. In reading CIBC World Markets latest Economic Insight, its not hard to understand why.
Imagine receiving a credit card bill that totaled $243,476. This would no doubt be a shock for most Canadians. But if you add up all the liabilities of every Canadian government "federal, provincial, and local" that is in fact how much each taxpayer would owe of the $4.1 trillion total in direct debt and unfunded liabilities.
This admittedly is a very large number and much bigger than what is usually talked about by both politicians and pundits alike. So let's deconstruct it to gain a better understanding.