The red-ink budgets that have engulfed Alberta since the last recessionAlbertas Finance Minister Doug Horner just announced this years deficit could hit $4-billion are not accidental. Such red ink is not just the result of weaker resource revenues, as Alberta Premier Alison Redford regularly claims.
government spending
Février 18, 2013
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Going by Finance Minister Mike de Jong's public comments, Tuesday's provincial budget is supposed to present a plan to finally balance the books. But after four consecutive years in the red, British Columbians can't yet breathe a collective sigh of relief. Critically important is how Minister de Jong plans to eliminate the deficit. Will he take the path of tax increases or spending reductions?
Février 5, 2013
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Even Greece, the poster child for rampant debt, carried an Ontario-style debt load as recently as 1984
Don Drummond (2012) Commission on the Reform of Ontarios Public Services
Février 5, 2013
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I do not want Ontario to become like California Finance Minister Dwight Duncan once proclaimed. And it's not hard to understand why, California is a fiscal nightmare. It has the lowest bond rating in the United States and its own Treasurer, Bill Lockyer, referred to the state budget as "a fiscal train wreck." Yet, despite all that is said about California's finances in the media and financial markets, there is a Canada province that is in much worse shape. Welcome to Ontario.
Janvier 26, 2013
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When Alberta Premier Alison Redford took to the television screen the other night, she paid much attention to the revenue side of the government's books. On Alberta's massive budget deficit, the premier blamed the below-world price that Alberta-based companies receive for oil.
Janvier 24, 2013
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More than three years after the end of the recession and Albertas provincial government continues to struggle with deficits, which as of the last quarterly update could reach $3 billion. Relying on revenues to rebound enough to catch up with spending just doesnt work as Albertas own history aptly demonstrates. Similarly, municipalities across the province continue to struggle to find sufficient resources for infrastructure needs while balancing their books.
Janvier 19, 2013
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You might think the federal Conservatives, who added $125-billion to the federal debt since 2008 and will add another $21-billion by the end of March, might be shy about unnecessary expenditures. Alas, thats not the case, as it appears Prime Minister Stephen Harper and his colleagues would rather hand out cash to corporate Canada instead.
In just the first two weeks of January, the prime minister announced another $250-million for the Automotive Innovation Funda federal subsidy program that provides the auto sector with taxpayer cash for research and development.
Décembre 14, 2012
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When Canadas premiers met recently in Halifax, talks of a possible pipeline to move oil from Alberta to eastern Canada dominated national headlines. There was also mention of talks about trade, immigration, skills training, and infrastructure. One issue that didnt receive nearly as much attention is the management of public finances and growing government debt.