Deficit Balloons To $7.7 Billion Under Continued Fiscal Incompetence
EDMONTON, AB (November 22, 2010): Today, Wildrose Finance Critic Rob Anderson renewed his caucus’ repeated calls for the PC government to distinguish between wants and needs in the wake of news that Alberta’s projected deficit has ballooned again.
The government announced its projected deficit has risen to $5 billion, up from the $4.7 billion projected originally in Budget 2010. However, that doesn’t figure in the $2.7 billion borrowed to finance infrastructure. The real cash shortfall the government faces now stands at $7.7 billion.
“Minister Ted Morton says this is the New Normal. Well, if $7.7 billion cash shortfalls are the New Normal, than we and our kids are in a whole lot of trouble,” Anderson said. “The PCs must quit pouring hundreds of millions into empty buildings with no staff and halt billion dollar boondoggles such as grants to corporations to pump CO2 into the ground if they ever hope to get this budget under control.”
Anderson expressed deep skepticism that the government will be able to deliver on its promise to balance the budget in 2012.
“Anybody with a child or grandchild should be worried about the spending and debt habits of this crew – they make the Don Getty government look fiscally responsible,” he said.
The Wildrose Caucus supports smaller, more efficient government, balanced budgets, legislated spending limits and taking steps to restore an attractive business investment climate in Alberta.
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For further information or to arrange an interview, media are invited to contact the Wildrose Caucus at:
Brock Harrison
Communications Co-ordinator, Wildrose Caucus
Ph: 780-399-2890