NO END IN SIGHT TO NDP FISCAL DISASTER ACCORDING TO NEW REPORT
NDP Finance Minister Joe Ceci needs to come clean with Albertans about the true impact of his government’s reckless and irresponsible spending after a Conference Board of Canada report confirms that the NDP has no plan to balance the provincial budget or repay tens of billions in new borrowing, pointing out that “Large deficits and rising debt levels will be the norm over the forecast.”
“Today’s report confirms that this government has done nothing to control spending and is relying entirely on resource revenue to shrink its massive deficits and ballooning debt,” said United Conservative Party Finance Critic Derek Fildebrandt. “Praying for higher oil prices is not a credible fiscal plan and as a result of this NDP incompetence, Albertans will be paying a whopping $2.3 billion in interest by 2019-20. That’s more than the annual operating budgets of all but four government departments.”
By the time Albertans head to the polls in 2019, the NDP will have driven the province’s net debt up to a staggering $44.2 billion.
“When this reckless government took office in 2015, Alberta was in a net asset position,” said United Conservative Party Finance Critic Ric McIver. “Now, just two years later, they have presided over the most dramatic fiscal decline in Alberta history and saddled our children and grandchildren with generations of crushing debt payments that will ultimately impact their ability to maintain high-quality public services.”