"Alberta government surplus of $5.7 billion exceeds $4.8 billion provincial income tax in 2004

EDMONTON: The Canadian Taxpayers Federation (CTF) today called on Premier Klein's government to refund Albertans the provincial income tax they paid in 2004.

The Second Quarter Fiscal Update for 2004-05 reveals that the Alberta government is receiving $5.7 billion more in revenues than what had been anticipated when the budget was introduced in March of 2004. During the 2004 calendar year, Albertans paid approximately $4.8 billion in provincial income tax.

During this current fiscal year which ends March 31, 2005, the Alberta government is receiving $28.6 billion in revenues, which is $5.7 billion more than expected. The $28.6 billion works out to about $9,000 in provincial taxes for every man, woman and child in the province. No government in Canada receives more revenues, per person, than Alberta's government. Of this $28.6 billion, $9.6 billion is from oil and gas royalties.

In its pre-budget submission presented to Finance Minister Shirley McClellan last week, the CTF advocated that revenues from oil and gas in excess of $3 billion be given back to Albertans in the form of income tax refunds.

"Politicians have already increased their spending of our money by 90% in the past eight years, while Alberta's population grew only 15% and inflation was 23%. Now, with billions and billions from oil and gas flowing into general revenues, why should politicians increase their spending even more " asked CTF-Alberta director John Carpay.

"Why should politicians and bureaucrats have the right to spend these $5.7 billion of our money Are their choices better than the choices made by millions of Albertans when they decide how to spend, save and invest their own money " continued Carpay.

"Those who want to see the $5.7 billion surplus spent by politicians should remember that no one spends someone else's money as wisely as he spends his own. With an extra $5.7 billion now in their hands, there is no excuse for politicians to keep the $4.8 billion they took from us last year through provincial income tax," concluded Carpay.