The NDP government has tabled its 2018 provincial budget for Alberta and Bonnyville-Cold Lake UCP MLA Scott Cyr says the deficit the province sits in has hit alarming levels.
“When ever it comes to the budget, nothing ceases to amaze me with the audacity of the NDP. We’re looking at borrowing $11.3 billion this next year. Just for perspective, the Alberta Heritage Trust Fund is sitting at &17.5 billion this last quarter. That means we’re borrowing 65 percent of the Alberta Heritage Trust Fund.”
The budget, entitled “A Recovery Built to Last”, has the province running an $8.8 billion deficit this year. The plan is heavily focused on diversifying the province away from the boom and bust cycle of natural resources while still sticking up for Alberta’s oil revenues.
Cyr says that diversification of the Albertan economy is good, but shouldn’t come at a cost of the Albertan worker.
“I think that any time that we can diversify our economy is good for us, but if we start to put taxes and levies on the oil sands areas like ours and give it to corporations through corporate welfare; This creates a burden on our local area and this means people go out of work.”
This is the first NDP budget tabled that takes cannabis sales into account and the fourth consecutive deficit budget for the NDP government since taking over the PC’s 44 year reign in 2015.