CALGARY, AB: The Canadian Taxpayers Federation (CTF) is extremely concerned by today’s cabinet approval of up to $6 billion in more provincial debt.

On Thursday the Alberta government authorized the President of the Treasury Board to borrow an additional $6 billion.

“Why is the government following the old PC plan to increase the debt now, and ask questions later?” asked CTF Alberta Director Paige MacPherson. “This irresponsible strategy will only serve to dump the government’s ballooning debt onto future generations of Albertans.”

As of April 1^st, Alberta’s debt was $11.9 billion. Based on the Prentice budget, the debt is set to hit $31.2 billion by 2019-20. Alberta’s debt is increasing by nearly $11,000 per minute.

“Has the government gone to every department and asked where they can trim spending? Have they even tried to tighten their own belts before shovelling debt onto the backs of our kids?” asked MacPherson. “The NDP government is just continuing with the irresponsible PC tax-and-borrow plan that Albertans rejected in the spring.”

A full budget is not expected until the fall.

“Taxpayers have given the government time to do their due diligence with our finances,” said MacPherson. “Yet all we’ve seen so far is increased spending, tax hikes, and now a confirmation of the Prentice borrowing plan. We haven’t heard one peep about spending restraint or debt reduction.”

Click here to view Alberta’s Debt Clock and watch the debt increase in real time.

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For more information:

Alberta Director Paige MacPherson
cell: 403-478-7184, email: [email protected]

The CTF is Canada's leading non-partisan citizens' advocacy group fighting for lower taxes, less waste and accountable government.  Founded in 1990, the CTF has more than 84,000 supporters and seven offices across Canada.  The CTF is funded by free-will, non tax-receiptable contributions.