The first two years of the Notley government have been marked by spending and tax increases.
alberta government finances
The spending reforms of the 1990s laid the foundation for tax reforms and an extended period of prosperity.
Government debt interest payments in Alberta will more than double to $2.3 billion by 2019/20.
Higher income taxes create disincentives for hard work and entrepreneurship, two important drivers of growth.
Alberta ran seven deficits in the past eight fiscal years when oil prices averaged $88 per barrel.
Ontario’s cumulative deficit from 2009 to the end of last year was approximately $81.9 billion—50 per cent more than projected in 2009.
The real “resource curse” is the way successive Alberta governments squandered revenues from resource development.