Forty-one billion dollars. That’s the extra amount, over and above what was needed to keep pace with population growth and inflation between 2006 and 2013, this to fund Alberta government program spending in those years.
alberta economy
Alberta Premier Jim Prentice is in the midst of formulating his first budget and the fiscal path of the province while watching oil prices continue to decline.
When Ontario Finance Minister Charles Sousa announced a budget update and a revised, lower forecast for provincial economic growth, it was yet another piece of evidence that Ontario’s economy is sluggish. But Ontario’s problems run deeper than just one fiscal update from one finance minister.
Question: If you’re young, or have very little education, where’s the best place in the country to find a job, make a decent income and prosper? Answer: Alberta, followed by Saskatchewan and British Columbia.
Alberta’s decades long economic success is a result of resource wealth, relatively sound public policies and a growing skilled labour force. Compared to other energy-producing jurisdictions such as Alaska, North Dakota, Saskatchewan, Texas, and Wyoming, Alberta does well economically but there are areas of concern, which if ignored, may affect the province’s long-term prosperity.
There has been much handwringing over the claimed disappearance of the middle class. From a bestselling international tome to domestic tax-and-spend types who think higher taxes will create more middle-income earners, there is no shortage of those who over-focus on redistribution and underestimate the benefits of opportunity.