President of Treasury Board and Minister of Finance Travis Toews issued the following statement announcing the publication of the 2018-19 Government of Alberta Annual Report:
“The 2018-19 annual report outlines the past fiscal year and it has become crystal clear this province is in need of strong fiscal management as a result of the previous government’s irresponsible overspending.
“This year’s annual report shows that under the former administration’s watch, Alberta’s debt has skyrocketed to more than $80 billion. Each Albertan owes $1,800 more now than the year before. This level of debt is unsustainable and we will be taking every measure possible to ensure this is brought under control to get Alberta on a path to balance.
“This challenge requires immediate action. We are reviewing spending through a thoughtful and measured approach and will be considering the recommendations from the MacKinnon panel this summer. Albertans can be confident that we will fulfil our promise to balance the budget by 2022-23.
“Our government respects the role it plays when dealing with taxpayers’ money. Rest assured, we continue to make thoughtful and responsible decisions that support and invest in the high-quality programs, services and infrastructure that Albertans expect and deserve.”