Despite dire warnings of financial catastrophe from the official opposition, Alberta's deficit and debt levels aren't a problem - at least not yet. Revenue, however, is a problem. Parkland Institute Research Manager Ian Hussey explains.
Here are six things from the new Parkland Institute report, Hard Math, Harder Choices: Alberta’s Budget Reality, that Albertans should know in advance of the October 27 release of the NDP government's Budget 2015.
New report finds budget woes deeper than commonly thought
A new report released today by Parkland Institute finds that the new NDP government has been left with a bleak fiscal reality as it prepares to table its first full budget on Tuesday, with a budget shortfall that could be twice as large as is commonly understood.
Alberta's Budget Reality
Barring unexpectedly rapid improvements in the energy sector, the Notley government will soon be forced to address the previous government's budgetary legacy; not only the massive revenue hole resulting from the precipitous drop in resource revenues that began in the fall of 2014, but also a structural deficit that emerged even when resource prices were high.
The claim that the Government of Alberta has a spending problem has been a widely held belief in our province for decades, but the claim of out-of-control spending doesn't stand up to scrutiny.
Comparing 11 key policy issues
As we enter the final weekend of Alberta election 2015, Parkland Institute compares the platforms of the four major parties on 11 key policy areas.
One of the most frequently cited numbers during this election is the claim that Alberta's economy will shed 9,000 jobs for every 1% increase in the corporate tax. But does this claim, made by economist Jack Mintz and repeated by both the Wildrose and Progressive Conservatives, really hold up to scrutiny?
The Decline in Alberta Oil and Gas Royalties
Alberta Budget 2015 represents a turning point for post-secondary education funding and governance. Unfortunately, this turn signals the start of a race to the bottom, and the Prentice government’s lack of a coherent vision for the sector.
The same ruling party. The same manufactured crises brought into stark relief by a drop in oil prices. The same rhetoric about belt-tightening. The same refusal to look at real revenue solutions that could finally get the province off the oil price roller coaster. Year after year after year.