Premier Redford creating debt for a new generation to deal with

Premier Alison Redford has released the 2013 budget and it shows Alberta plunging back into debt for the first time in a generation.

Premier Alison Redford has released the 2013 budget and it shows Alberta plunging back into debt for the first time in a generation.

Premier Redford’s comment that this is a once-in-a-generation budget is absolutely correct. It took a generation for Albertans to pay off former premier Don Getty’s debt and it will take a new generation to pay off the $17 billion dollars in new debt built up by Redford before 2016.

Budget 2013-2014 numbers:

• $3.5 billion — new debt this year, doubling the amount to over $8 billion next year;

• $16.9 billion — new debt before the next election, the original amount of the sustainability fund;

• $5.5 billion — budget 2013-14 cash deficit;

• $2 billion — amount taken from the sustainability fund in 2013-14;

• $691 million — what will remain in the sustainability fund after budget 2013-14;

• $1.4 billion — operational deficit for the current budget year, 2012-13;

• $451 million — operational deficit for budget 2013-14;

• $238 million — debt servicing in 2013, with $404 million in 2014 and $593 million in 2015;

The Wildrose financial recovery plan is built on these key steps:

• Prevent any new tax or tax hike from being introduced without a provincial referendum;

• Eliminate the operating deficit immediately in budget 2013;

• Eliminate the real cash deficit by budget 2014;

• Legislate the Wildrose Balanced Budget and Savings Act in 2014, which will cap annual increases in spending and save 50 per cent of all future cash surpluses into the Heritage Fund.

What do you think about Alberta’s 2013 budget? Let me know.

Kerry Towle, MLA

Innisfail-Sylvan Lake

18, 4804 42nd Ave.

Innisfail, Alta, T4G 1T4

(403) 227-1500

innisfail.sylvanlake@assembly.ab.ca

Just Posted

Red Deer’s capital budget talks start amid gloomy forecasts

Failing Kinex Arena will need replacement soon: city manager

Jamie Koe rink kicked out of Red Deer Curling Classic

Skip Jamie Koe and his team from Yellowknife, N.W.T., was ejected from… Continue reading

Red Deer’s Christmas Wish Breakfast helps children by collecting toys

Donations go to Red Deer Salvation Army and Red Deer Christmas Bureau

‘Fantastic Beasts’ flies to top of weekend box office

LOS ANGELES — “Fantastic Beasts: The Crimes of Grindelwald” crawled, slithered and… Continue reading

Canadian dead more than a week after plane crash in Guyana: Global Affairs

A Canadian citizen who was aboard a plane that crashed through a… Continue reading

VIDEO: Stan Lee leaves posthumous message for his fans

Marvel Comics’ co-creator died on Monday at the age of 95

Death of young Thai kickboxer brings focus on dangers

BANGKOK — The sight of two preteen boys pummeling each other with… Continue reading

Teenage driver survives spectacular crash at F3 Macau GP

MACAU — Teenage driver Sophia Floersch was set to undergo surgery Monday… Continue reading

David’s Bridal files for bankruptcy, but your order is safe

David’s Bridal is filing for bankruptcy protection but there is no danger… Continue reading

Taiwan president defends pro-independence film award winner

BEIJING — Taiwan’s president expressed her support for the prestigious Golden Horse… Continue reading

Pamela Anderson calls Australian PM’s comments ‘smutty’

LOS ANGELES — Pamela Anderson is criticizing Australia’s prime minister for making… Continue reading

Trump on Khashoggi death tape: ‘No reason for me to hear it’

WASHINGTON — President Donald Trump said there is no reason for him… Continue reading

Searchers in California fires step up efforts ahead of rain

CHICO, Calif. — Searchers combing a Northern California town levelled by a… Continue reading

Disney details new ‘Star Wars: Galaxy’s Edge’ attractions

ORLANDO, Fla. — “Star Wars” fans will soon be able to pilot… Continue reading

Most Read