Alberta’s NDP government is forcing future generations to have to pay billions in debt if it can’t bring the budget back into balance.
Albert is diving deep into debt with the Province’s 2017-’18 budget. The government plans to borrow $15.2 billion this year and Alberta’s debt is on track to reach $71 billion by 2020. The budget includes a $10.3 billion deficit, which is expected to drop to $71 billion in two years.
Finance minister Joe Ceci doesn’t expect a balanced budget until 2024. He says he’s taking a long-term view and won’t make cuts that could hurt Albertans. Alberta is emerging from a crippling recession and, yes, the government needs to ensure it doesn’t risk the “green shoots” of economic growth it is touting.
Yes, deep cuts may be just as harmful, but there also needs to be a plan to balance the budget and pay off the debt.
Right now, there is no plan.
Interest costs alone will reach $2.2 billion in two years. It will add up to more than the government expects to pay in several key ministries, including children’s services, agriculture, environment and justice.
The NDP government needs to give Albertans a clear path back to a balanced budget and not leave it to future generations to deal with.
