EDMONTON, AB: The Canadian Taxpayers Federation is calling on the Alberta government to tackle its spending problem in response to today’s dire fiscal update.

“For years, politicians have been hitting the snooze button while the government’s spending has been skyrocketing and our finances have been deteriorating,” said Franco Terrazzano, the CTF’s Alberta Director. “Today’s fiscal update and the $100-billion debt tab is a loud wake-up call for the politicians and interest groups who think we can keep racking up charges on the taxpayer credit card. It’s time for Alberta politicians to stop procrastinating and tackle the government’s overspending problem.”

The 2020 first quarter fiscal update forecasts a $24.2-billion deficit, while the debt is expected to reach $99.6 billion by the end of the year. The interest costs on the debt are expected to be $2.5 billion this year, which is more than $500 per Albertan.

The Alberta government has the highest per person spending in Canada, according to the Blue Ribbon Panel on Alberta’s finances. The panel also found that Alberta would spend $10.4 billion less every year if its per person spending was in line with British Columbia, Ontario and Quebec.

“Alberta’s in fiscal quicksand and we’ll need quick action to get out before we are up to our necks in debt,” said Terrazzano. “Struggling Alberta families and businesses can’t afford to keep paying for a high-cost provincial government, so Premier Jason Kenney needs to cut spending and grow the economy.”