Every US$1 decline in oil prices reduces government revenues by an estimated $630 million.
According to projections, federal net debt will jump by more than $142 billion over the next five years.
According to projections, debt interest costs will reach $3.1 billion in 2025/26.
Per-person spending will reach $14,790 in 2023/24—an increase of about 5 per cent from 2019/20.
Program spending is projected to be $4.2 billion higher in 2023/24 than budgeted just a few months ago.
Due to tax hikes in Ottawa and Edmonton, the province's top combined income tax rate increased to 48 per cent.
The province's top income tax bracket to 53.53 per cent, the third-highest rate in North America.
Ontario and Alberta are projecting budget deficits for years to come.
The province should make its personal and corporate income tax system more competitive.