Borrowing will add to the explosion of Alberta’s debt under the NDP government.
The Notley Government continues adding to the debt burden on future generations.
Having already driven up Alberta’s debt, the NDP has approved another $37 billion in red ink.
As noted by the Calgary Herald, “The 2017-18 budget projects the government will borrow $32 billion in the 2018-19 and 2019-20 fiscal years for capital and operating costs, refinancing of mature debt and covering shortfalls incurred by the balancing pool.”
Added to the $32 billion is a $5 billion contingency reserve.
Strangely, the government ended restrictions on the ability of the government to borrow money in foreign currencies, according to the Calgary Herald.
It’s an odd move, and something nobody was asking for.
Inability to show fiscal restraint
The Notley NDP government has fed into all the negative stereotypes that existed around the NDP.
They expanded the bureaucracy, ran debt way up, increased spending, and increased taxes (carbon tax).
Predictably, this worsened the impact of the oil downturn, and hurt countless workers and families across Alberta.
As a result, the NDP is incredibly unpopular, and faces a resurgent Conservative movement led by Jason Kenney – promising to overturn the job-killing approach of the NDP.
Yet, even with a United Conservative Party victory, Albertans will be paying for the NDP’s lack of fiscal responsibility for a very long time.