Prentice Raises Taxes by $2,500 on Average Family
EDMONTON, AB – Premier Jim Prentice’s Budget 2015 will cost the average family $2,500 in 59 new and increased taxes and fees on everything from income, to marriage and death, the Wildrose Official Opposition said today.
Budget 2015 will increase spending by $3.5 billion by 2019 and raise taxes on families by $2.7 billion. The PCs will run a consolidated deficit of $7.7 billion this year and see Alberta’s debt reach $31 billion by 2019. This is the largest deficit and tax hike in Alberta history.
“Mr. Prentice is making Alberta families pay the price for the PC party’s waste and mismanagement through the largest tax increase and deficit in Alberta history,” Forsyth said. “This budget is tough on taxpayers and easy on PC waste.”
With a $7.7 billion deficit, Forsyth warned of the introduction of a PST and even more damaging taxes after the election.
“Mr. Prentice has had three budgets in three months, and this is just his pre-election budget. The real budget will come after the election and will either include meaningful reductions to spending that the Wildrose stands for, or a PST that Prentice has waffled on packaged with higher taxes.” Forsyth said. “If this is the real budget, and not just a pre-election ploy, Prentice should debate it, pass it, and not break our fixed-election law until 2016.”
In Budget 2015, there are no spending reductions to the Premier’s office, with a $58 million increase to MLA budgets and new offices and another $313 million funneled to Carbon Capture and Storage. And while there are spending reductions for health care, departments like IIR, Culture and Tourism are left untouched, and charities are being punished with a reduction in tax credits.
“Higher taxes for families, billions of dollars ripped out of the economy and we are seeing no real measures to get a hold on out-of-control PC spending,” Forsyth said.
BY THE NUMBERS
59 – New or increased taxes
$2,500 – Tax hike on average Alberta family
$2.7 billion – In new taxes
$500 million – In total spending increases
$7.7 billion – Real, total deficit
$31 billion – Total debt by 2019
$3.5 billion – Five year increases in spending
$313 million – Carbon Capture and Storage
$54 million – Spending increase for MLA offices and budgets