EDMONTON, AB: Wildrose Shadow Finance Minister Derek Fildebrandt demanded NDP Finance Minister Joe Ceci release the same details to the public that credit agencies are asking Alberta’s government to share with them, and full details of how much debt the government will incur by 2024.
Earlier this week, Ceci reported back from Toronto that credit agencies were asking “for further elaboration to understand the fundamentals” of the NDP government’s debt-fueled budget.
In Question Period, Ceci refused to say whether or not Albertans can expect another downgrade and how much debt Alberta will owe by the time the NDP claims Alberta will be back at balance in 2024.
Fildebrandt said with a possible credit downgrade looming, Ceci owes it to Albertans to release whatever extra budget details he is sharing with credit agencies.
“Right now, the NDP government is asking us to just take them at their word that they will somehow get to balanced budgets sometime halfway through the next decade,” Fildebrandt said. “Credit rating agencies have taken a look at the budget and said it’s lining Alberta up for more credit downgrades. If the minister has more information he can give credit agencies, he can give it to Albertans too.”
On March 17, Moody’s issued a release stating that Alberta’s “rising debt burden” is putting “significant pressure” on its credit rating.
“Credit rating agencies have no confidence in the NDP government to manage the province’s finances and neither do Albertans,” Fildebrandt said. “Albertans deserve to know what information credit rating agencies asked for that wasn’t in the budget, how much debt they will owe by 2024 and whether or not they can expect a fifth credit downgrade.”