Alberta government has spent $38.6 billion on infrastructure projects over the past six years
Tories Returning Alberta to Debt?
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CALGARY, AB: The Canadian Taxpayers Federation (CTF) reacted today to Premier Redford’s announcement over the weekend at the PC Party convention that her government would return Alberta to debt to pay for infrastructure projects.
“The Premier is throwing Ralph Klein’s legacy and her party’s greatest achievement under the bus,” said CTF-Alberta director Derek Fildebrandt. “Once a government has broken the seal on debt, it’s very difficult to stop.”
Fildebrandt scoffed at Premier Redford’s statement of: “If everything we do right now is funded fully with cash in the bank, then we are never going to build anything more in this province.”
“Apparently the Premier has forgotten about the staggering $38.6 billion this government has spent on capital projects over the past six years. Nearly all of which was ‘funded fully with cash in the bank,’” continued Fildebrandt.
The Premier and Finance Minister have been hinting that only the day-to-day “operating budget” needs to be balanced, while capital projects could be funded by borrowing.
“After promising repeatedly to balance the budget by 2013, it’s now absolutely clear how the government intends to balance the budget: change the definition of a balanced budget,” said Fildebrandt.
Fildebrandt concluded, “If you can’t balance the budget when oil is $90 per barrel, while sitting on one of the largest oil deposits on Earth, then you’re not even trying.”
Derek Fildebrandt, Alberta Director