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Alberta slides from fiscal leader to laggard: Fraser Institute

Last Updated Sep 8, 2017 at 6:36 am MDT

Alberta has gone from a fiscal leader to a laggard.

The latest report from the Fraser Institute argued Saskatchewan and Quebec have overtaken the province as examples of prudent fiscal management.

Report co-author Charles Lammam said that by 2019/20, Alberta will have added almost $10,000 in net debt per person.

“That’s a remarkable swing given that the province enjoyed a net asset of position of almost the same amount just a decade ago,” he said.

An argument can be made this is the result of the drop in commodity prices, but Lammam countered Saskatchewan, which was also hit hard, has cut program spending 1.6 per cent to balance its budget starting in 2019/20.

Lammam explained Alberta’s problems started with previous governments, but has been made much worse by the current administration.

“With about 11 per cent of Canada’s population, Alberta will add 43 per cent of all provincial debt in Canada this year,” he cautioned.