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.
With a budget deficit approaching $6 billion, Albertans are seeing the impact of decades of Progressive Conservative detaxation policies. Albertans voted last May for a new approach to government, but it remains to be seen if the NDP government will be able to deliver.
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?
Alberta’s Increasing Income Inequality
Return to progressive tax would help reverse troubling trend
The gap between the rich and the poor in Alberta is the widest in the country, and the disparity between those Albertans at the top of the income ladder and those at the bottom has been growing faster than in any other province, according to the findings of a new fact sheet released today by the Parkland Institute.
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.
Alberta is the richest jurisdiction in North America. But women living in the province are among the most disadvantaged in Canada, facing higher income gaps, unpaid work gaps, and after-tax income gaps than women living anywhere else in the country.