PC leadership candidate Jim Prentice promising to cap Alberta’s debt
EDMONTON — Alberta PC leadership candidate Jim Prentice says he would cap the amount of debt the province takes on to pay for infrastructure.
Prentice, in a speech to Edmonton’s Chamber of Commerce, didn’t say what that number would be.
The province is on track to hit $9 billion in debt this year for roads, schools and hospitals and expects to owe $21 billion by 2017.
Prentice says borrowing is the right thing to do in a rapidly growing province, but he adds it has to be accompanied by a strict payback plan.
Prentice has already said that he would use half of future budget surpluses for debt repayment.
He also told the chamber he would make changes so that future budgets would have a clear bottom line that everyone could understand.