Wednesday, February 15, 2006

Alberta on it's way back into debt...

It's getting serious here in Alberta. Deadly serious.

When the Canadian Taxpayers Federation, the Fraser Institute, former associate Deputy Minister of Finance and economist Paul Boothe, and former Premier Peter Lougheed all say that the government needs to stop spending and start saving...you know things are bad, very bad.

We're not even talking about if oil and gas prices drop - Paul Boothe predicts that even if record-high oil and gas prices stay at the same level, Alberta will run a deficit in five years.

Five years! And this from a government that once was heralded world wide for it's fiscal restraint and ability to get out of debt.

If the govenment doesn't "right the ship" in their 2006-07 budget the only hope might be a change in leadership.

Let's hope that's not the legacy Premier Klein has in mind.

4 comments:

David MacLean said...

I think it's impossible for lougheed to make any more sense than this.

leftdog said...

Klein is becoming an embarrasment and an impediment to the federal tories - he was successfully muzzled during the election - he will be gone very soon.

archie said...

I wonder how much of the Alberta Gov.operating budget comes from taxes and fees and how much from oil? I still think they get the majority of their moneys from taxpayers.

Scott Hennig said...

No need to wonder...here is the info:

Total revenue 2005-06: $33.2 B
Total resource revenues 2005-06: $13.2 B

Other source revenue 2005-06: $20 B

60.4% of revenues come from non-resource revenues.

Every other province is closer to 95%.

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